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Directors Report of Neelkanth Rockminerals Ltd.

Mar 31, 2015

Dear Members,

The Directors have pleasure in presenting their 27th Directors' Report on the business and operations of the Company together with the Audited Statement of Accounts for the Financial Year ended March 31,2015.

FINANCIAL SUMMARY OR HIGHLIGHTS/PERFORMANCE OF THE COMPANY:

During the year under review, performance of your company as under:

2014-2015 2013-2014

Sales & Other Income 173.69 109.48

Profit Before Interest & Depreciation 13.06 1331

Less: Interest 0.19 0.01

Depreciation 7.66 11.62

Profit Before Taxation 5.21 1.69

Less:Provision for Taxation 131 1.99

Deferred Tax Asset -0.15 -1.03

Profit Alter Taxation 4.06 0.73

Add: (Less) Balance b/f from previous year 35.30 35.15

Add: (Less): Excess provision for Tax in previous years

Surplus Carried to Balance Sheet 35.30 35,15

PERFORMANCE REVIEW:

Your Company achieved performance of both in turnover and its profits, the turnover of the Company has increased 58.65% as compared to previous year and profit of the year increased 5.56% as compared to previous year.

DIVIDEND:

However with the view to conserve the resources of company the directors are not recommending any dividend.

AMOUNTS TRANSFERRED TO RESERVES:

The Board of the company has decided/proposed to carry Rs. 405779/- to its reserves.

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

Information as per Companies (Disclosure of particulars in the Report of Board of Directors) Rules, 1988 relating to conservation of energy, technology absorption, foreign exchange earnings and outgo are given in Annexure forming part of this report.

DIRECTORS

a) Directors and Key Managerial Personnel (KMP):

In accordance with the provisions of Section 203 of the Act, the following have been designated as KMP of the Company:

Name of KMP Designation

Mr. Shantilal Kawar Managing Director

Name of Directors Designation

Mr, GautamchandKawar Director

Mr. Rajendra Kumar Abani Non Executive Independent Director

Mr. Naresh Kumar Jain Non Executive Independent Director

Mrs. ShwetaVikashKawar Additional Director

Mr.GautamchandKawar, Director of the Company, who is retiring by rotation at the ensuing Annual General Meeting and being eligible, offers himself for re-appointment.

In terms of Section 161 of the Companies Act, 2013 Mrs. Shweta Vikash Kawar was appointed as an Additional Director with effect from March 30, 2015 retire at the ensuing Annual General Meeting. We have received a Notice under Section 160 (1) of the Companies Act, 2013 from a member proposing the candidatures of Mrs. Shweta Vikash Kawar to the office of Directorship, whose terms of office shall be determined for retirement by rotation.

b) Declaration by Independent Directors

The Company has received necessary declaration from each Independent Director of the Company under Section 149(7) of the Act that they meet with the criteria of their independence Lald down in Section 149(6) of Act read with Clause 49 of the Listing Agreement.

c) Formal Annual Evaluation

Pursuant to the provisions of Section 178 of the Act, read with Clause 49 of the Listing Agreement, the Board of Directors has carried out an annual evaluation of the performance of the Board as a whole, the Directors individually and the working of the committees of the Board. The performance evaluation of the Chairman and other Non-Independent Non- Executive Directors was carried out by obtaining feedback on them from the entire Board.

DIRECTORS' RESPONSIBILITY STATEMENT"

Pursuant to clause (c) of sub-Section (3) of Section 134 of the Act, the Directors would like to state that:

(a) in the preparation of the annual accounts for financial year ended March 31, 2015, the applicable accounting standards have been followed along with proper explanation relating to material departures;

(b) 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 as at March 31,2015 and of the profit of the Company for that period;

(c) the Directors have taken proper and sufficient care for the maintenance of adequate accounting records, in accordance with the provisions of the Act for safeguarding the assets of the Company, and for preventing and detecting fraud and other irregularities;

(d) the Directors have prepared the annual accounts for the year ended March 31,2015, on a going concern basis;

(e) the Directors have Lald down internal financial controls to be followed by the Company and that such internal financial controls are adequate and are operating effectively; and

(f) the Directors have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.

NUMBER OF BOARD MEETINGS

A calendar of Meetings is prepared and circulated in advance to the Directors. During the year under review, Seven (7) Board Meetings were convened and held. Details of the composition of the Board and its Committees and of the Meetings held attendance of the Directors at such Meetings and other relevant details are provided in the Corporate Governance Report.

EXTRACT OF ANNUAL RETURN:

The extract of Annual Return, in format MGT-9, for the Financial Year 2014- 15 has been enclosed with this report

PARTICULARS OF LOANS. GUARANTEES. INVESTMENTS AND SECURITIES:

Particulars of the loans given, investment made or guarantee given or security provided and the purpose for which the loan or guarantee or security is proposed to be utilised by the recipient of the loan or guarantee or security are provided in Financial Statements.

DEPOSITS:

The Company has not accepted any deposit from the public falling within the ambit of Section 73 of the Act and the Companies (Acceptance of Deposits) Rules, 2014.

PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES REFERRED TO IN SUB-SECTION (1) OF SECTION 188:

All transactions with related parties were in the ordinary course of business and at arm's length. The company has not entered into any transaction of a material nature with any of the related parties which are in conflict with the interest of the company The details of related party transactions are disclosed in Note No.30 attached to and forming part of the accounts.

AUDITORS:

Statutory Auditors and Auditors' Report

M/s. Maheshwari& Jain, Chartered Accountants, retire as Auditors of the Company at the conclusion of the ensuing Annual General Meeting, and being eligible, offer themselves for re-appointment. The Company has received a Certificate from the Auditors to the effect that their appointment, if made, would be in accordance with the provisions of Section 139 and 141 of the Companies Act, 2013. The Board recommends their re-appointment for a term of five years i.e till the conclusion of the Annual General Meeting to be held for the financial Year 2019-2020, subject to ratification of their appointment at every Annual General Meeting during the said term.

Secretarial Auditor

Pursuant to the provisions of section 204 of the Companies Act, 2013 and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company has appointed M/s. Paliwal Vikas & Associates, Practicing Company Secretaries to undertake the Secretarial Audit of the Company.

In terms of provisions of sub-section 1 of section 204 of the Companies Act, 2013, the Company has annexed to this Board Report as Annexure I, a Secretarial Audit Report given by the Secretarial Auditor.

AUDIT COMMITTEE:

The Audit Committee of the Company comprises Mr.Gautamchand Kawar, Mr.R. Abani and Mr.Naresh Kumar Jain. Mr. Rajendra Kumar Abani is the Chairman of the Committee.

The composition of the Audit Committee is in compliance with the requirements of Section 177 of the Act and Clause 49 of the Listing Agreement. The charter of the committee is in conformity with the Act and the Listing Agreement as more particularly set out in the Corporate Governance Report, which forms a part of this report.

During the year under review, there was no instance wherein the Board had not accepted any recommendation of the Audit Committee.

VIGIL MECHANISM FOR DIRECTORS AND EMPLOYEES:

Pursuant to the provisions of sub-sections 9 and 10 of Section 177 of the Act and as per Clause 49 of the Listing Agreement, the Company has established a Vigil Mechanism to enable the Directors and employees of the Company to report concerns of any unethical behaviour, violation of law or regulations, or suspected fraud.

INTERNAL FINANCIAL CONTROLS:

Your Company has in place, adequate internal financial controls with reference to financial statements, commensurate with the size, scale and complexity of its operations. During the year, such controls were tested and no reportable material weaknesses in the design or operation were observed.

RISK MANAGEMENT:

The Company has been undertaking periodic review of its operations to address various risks impacting it and consequently measures are taken to mitigate or minimize the risks. Normal foreseeable risks to the Company's assets are adequately covered by comprehensive insurance. The Company's risk management approach and practices continued to focus on minimizing the adverse impact of risks on its business objectives and to enable the Company to leverage market opportunities based on risk-return parity.

NOMINATION & REMUNERATION COMMITTEE:

The Remuneration Committee comprises Mr. Gautamchand Kawar, Mr. Rajendra Abani and Mr. Naresh Kumar Jain. Mr. Naresh Kumar Jain is the Chairman of this Committee.

The Committee is constituted in line with the regulatory requirements mandated by the Act and Clause 49 of the Listing Agreement. The terms of reference thereof are in conformity with the said requirements, as more particularly set out in the Corporate Governance Report, which forms a part of this report.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT:

The Management Discussion and Analysis Report for the year under review, as stipulated under Clause 49 of the Listing Agreement, is annexed to this Report.

CORPORATE GOVERNANCE:

The Company is committed to maintaining the highest standards of Corporate Governance and adhering to the disclosure norms as set out by Securities and Exchange Board of India. The Report on Corporate Governance as stipulated under Clause 49 of the Listing Agreement forms part of the Annual Report. The certificate from the Auditors of the Company confirming compliance with the conditions of Corporate Governance as stipulated under Clause 49 has been annexed with this report.

MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY:

There have been no material changes and commitments affecting the financial position of the Company, which have occurred between the end of the financial year under review and the date of this report.

SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS:

There have been no significant and material orders passed by any regulators or courts or tribunals, impacting the going concern status of the Company and its future operations.

DISCLOSURES UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION PROHIBITION & REDRESSAL ACT. 2013:

The Company has in place an Anti Sexual Harassment Policy, in line with the requirements of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. The Company has set up an Internal CompLalnts Committee to redress compLalnts received regarding sexual harassment. All employees (permanent, contractual, temporary, trainees) are covered under this Policy. The Company organizes workshops and awareness programmes at regular intervals for sensitizing the employees with the provisions of the Act.

During the year under review, the Company did not receive any compLalnt.

ACKNOWLEDGMENTS:

The Directors take this opportunity to express their deep and sincere gratitude to the customers of the Company for their confidence and patronage, as well as to the Government of India and other regulatory authorities for their co-operation. support and guidance. The Directors would like to express a profound sense of appreciation for the commitment shown bythe employees in supporting the Company in its continued robust performance on all fronts.

Place: Mumbai For and on behalf of the Board Date: 21 May, 2015 of Directors

GAUTAMCHAND KAWAR SHANTILAL KAWAR DIRECTOR CHAIRMAN


Mar 31, 2014

THE MEMBERS,

The directors hereby present 26th Annual Report together with the Audited Accounts of the company for the year ended 31st March 2014.

FINANCIAL RESULTS 2013-2014 2012-2013

Sales & Other Income 109.48 164.82

Porfit Before Interest & Depreciation 13.31 15.50

Less : Interest 0.01 0.05

Depreciation 11,62 13.41

Profit Before Taxation 1,69 2.04

Less:Provision forTaxation 1.99 1.49

Deferred Tax Asset 1.03 (1.24)

Profit After Taxation 0.73 1,79

Add: (Less) Balance b/f from previous year 35.15 32.63

Add: (Less) : Excess provision for Tax in previous years 0

Surplus Carried to Balance Sheet:

DIVIDEND .

To consolidate company''s financial position, directors recommend the profit to be carried forward Hence no dividend is proposed. ;

DIRECTORS

Mr. Naresh Kumar Jain, Director of the Company, retire by rotational the ensuing Annual General Meeting of the Company and being eligible offer themselves for re-appointment.

AUDITORS AND AUDITORS REPORT

The auditors, M/s Maheshwari & Jain, Chartered accountants, retire at the conclusion of this Annual General Meeting. The members are requi red to appoint auditor and fix their remuneration.

PARTICULARS OFEMPLOYEES

The company had no employee of the category mentioned in section 217(2 A) Companies Act, 1956.

DEMATERIALISATION OFSHARES:

The share of the company are presently traded in dematerialized form only. The shareholders are requested to contacttheir depository participants fordemat of shares.

CONSERVATION OF ENERGY TECHNOLOGY ABSORPTTON AND FOREIGN EXCHANGE EARNINGS AND OUTGO

The information in accordance with the provision of section 217(E) of the Companies Act,1936, read with the Companies (Disclosure of Particular in the Report of Directors) rules, 1988 is give Annexure ''A'' to the report and forms an integral part thereof.

DUES TO FINANCIAL INSTITUTIONS & TAX AUTHORITIES:

There are no loan from any financial institution. The tax payments are generally made well within statutory time limits. ''

INDUDTRIE RELATIONS:

Your Directors thanks all employees for the cooperation & harmonious relationship & progress of the company.

DIRECTORS'' RESPONSIBILITY STATMENT The Board ofDirectors of the Company confirms:

i) That in the preparation of annual accounts, the applicable accounting standard have been followed and there has been no material departure.

ii} That the selected accounting policies were applied consistently and the directors made judgment and estimates that are reasonable and prudent so as to give a true and fair view ofthe company as at 31 st March 2014, and ofthe profit or loss ofthe company for the year ended on that date.

iii) That proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provision of the Companies Act 1956, for safeguarding the assets of tile company and for preventing and detecting frauds and other irregularities.

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

INFORMATION PURSUNT TO COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF BOA RD OF DIRECTORS) RULES 1988 FORMING PART OF THE REPORT OF BOARD OF DIRECTORS.

Mumbai For Board of the Director 21May2014 Gautamchand kumar shantilalkawar Director Managing director


Mar 31, 2013

TO THE MEMBER''S

The directors hereby present the 25th Annual Report together with the Audited Accounts of the company for the year ended 31st March 2013.

FINANCIAL RESULT 2012-2013 2011-2012

Sales & Other Income 164.82 148.24

Profit Before Interest & Depreciation 15.50 4.23

Less: Interest 0.05 0.18

Depreciation 13.41 12.92

Profit Before Taxation 2.04 -8.88

Less: Provision for Taxation 1.49 0

Deferred Tax Asset (1.24) (2.74)

Profit After Taxation 1.79 (6.14)

Add : (Less) Balance b/f from previous year 32.63 38.76

Add : (Less) Excess provision for Tax in previous year 0 0

Surplus Carried to Balance Sheet 34.42 32.63

"DIVIDEND"

To consolidate company''s financial position, directors recommend the profit to be carried forward Hence no dividend is proposed.

DIRECTORS

Mr. Naresh Kumar Jain, Director of the Company, retire by rotation at the ensuing Annual General Meeting of the Company and being eligible offer themselves for re-appointment

AUDITOR''S AND AUDITOR''S REPORT

The auditors, M/s Maheshwari & Jain, Chartered accountants , retire at the conclusion of this Annual General Meeting. The members are requested to appoint auditors and fix their remuneration.

PARTICUL ARS OF EMPLOYEES

The company had no employee of the category mentioned in section 217 (2A) of the Companies Act, 1956.

DEMATERIALISATION OF SHARES:

The share of the company are presently traded in dematerialized form only. The shareholders are requested to contact their depository participants for demat of shares.

DUES TO FINANCIAL INSTITUTIONS & TAX AUTHORITFS:

There are no loans from any financial institutions. The tax payments are generally made well within statutory time limits

INDUSTRIAL RELATIONS:

Your Directors thank all employees for the cooperation & harmonious relationship & progress of the company.

DIRECTORS'' RESPONSIBILITY STATEMENT

The Board of Directors of the Company confirms: -

i) That in the preparation of annual''accounts, the applicable accounting standards have been followed and there has been no material departure;

ii) That the selected accounting policies were applied consistently and the directors made judgment and estimates that are reasonable''and prudent so as to give a true and fair view of the company as at 31'' March 2013, and of the profit of the company for the year ended on that date.

iii) 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 and detecting frauds and other irregularities.

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

For and on behalf of the Board of Directors

Mumbai

25 May, 2013 GAUTAM CHAND KAWAR SHANTILAL KAWAR

DIRECTOR MANAGING DIRECTOR


Mar 31, 2012

TO THE MEMBER'S

The directors hereby present the 24 Annual Report together with the Audited Accounts of this company for the year ended 31st March 2012.

FINANCIAL RESULT 2011-2012 2010-2011

Sales & Other income 148.24 122 67

Profit Before Interest & Depreciation 4.23 12.01

Less: Interest - 18 0.12

Depreciation 12.92 11.66

Profit Before Taxation -8.88 0.24

Less: Provision for Taxation - 0 2.03

Deferred Tax Asset (2.74) (195)

Profit After Taxation (6.14) 0.04

Add: (Less) Balance b/f from previous year 38.76 39.58

Add: (Less) Excess provision for Tax in previous year 0 0

Surplus Carried to Balance Sheet 32.63 39.58

To consolidate company s financial position, directors recommend the profit to be carried forward Hence no dividend is proposed.

DIRECTORS

Mr. Gautam Kawar, Director of the Company, retire by rotation at the ensuing Annual General Meeting of the Company and being eligible offer themselves for re-appointment

AUDITOR SAND AUDITOR S REPORT

The auditors, M/s Maheshwari & Jain, Chartered accountants , retire at the conclusion of this Annual General Meeting. The members are requested to appoint auditors and fix their remuneration.

PARTICULARS OFEMPLOYEES

The company had no employee of the category mentioned in section 217 (2A) of the Companies Act, 1956. DEMATERIALISATION OF SHARES:

The share of the company are presently traded in dematerialized form only. The shareholders are requested to contact their depository participants for demat of shares.

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

The information in accordance with the provisions of section 217 (e) of the Companies Act, 1956, read with the Companies (Disclosure of particulars in the Report of Directors) sales, 1988 is give in Annexure A to the report and forms an integral part thereof.

DUES TO FINANCIAL INSTITUTIONS & TAX AUTHORITES:

There are no loans from any financial institutions. The tax payments are generally made well within statutory time limits

INDUSTRIAL RELATIONS:

Your Directors thank all employees for the cooperation & harmonious relationship & progress of the company.

DIRECTORS RESPONSIBILITY STATEMENT

The Board of Directors of the Company confirms:

i) That in the preparation of annual accounts, the applicable accounting standards have been followed and there has been no material departure;

ii) That the selected accounting policies were applied consistently and the directors made judgment and estimates that are reasonable and prudent so as to give a true and fair view of the company as at 31" March 2012, and of the profit of the company for the year ended on that date.

iii) That proper and sufficient has been taken for the maintenance of adequate accounting records in accordance with the pwvisions of the Companies Act 1956, for safeguarding the assets of the company and for preventing and detecting frauds and other irregularities.

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

For and on behalf of the Board of Directors

Mumbai

23 May, 2012 GAUTAM CHAND KAWAR SHANTI LAL KAWAR DIRECTOR MANAGING DIRECTOR


Mar 31, 2011

TO THE MEMBER'S

The directors hereby present the 23rd Annual Report together with the Audited Accounts of the company for the year ended 31st March 2011.

FINANCIAL RESULT 2010-2011 2009-2010

Sales & Other Income 122.67 149.86

Profit Before Interest & Depreciation 12.01 14.52

Less: Interest 0.12 0.17

Depreciation 11.66 14.06

Profit Before Taxation 0.24 0.30

Less: Provision for Taxation 2.03 2.54

Deferred Tax Asset (1.95) (2.44)

Profit After Taxation 0.04 0.20

Add : (Less) Balance b/f from previous year 39.58 39.34

Add: (Less) Excess provision for Tax in previous year 0 0.00

Surplus Carried to Balance Sheet 39.58 39.34

To consolidate company's financial position, directors recommend the profit to be carried forward Hence no dividend is proposed.

DIRECTORS

Notices together with money deposits have been received from members pursuant to section 257 of the Companies Act 1956 proposing

AUDITOR'S AND AUDITOR'S REPORT

M/s Maheshwari & Jain, Chartered Accountants, the retiring auditors, have granted their consent to act as auditors from the conclusion of this Annual General Meeting till the conclusion of next Annual General Meeting.

PARTICULARS OF EMPLOYEES

The company had no employee of the category mentioned in section 217 (2A) of the Companies Act, 1956.

DEMATERIALISATION OF SHARES;

The share of the company are presently traded in dematerialized form only. The shareholders are requested to contact their depository participants for demat of shares.

CONSERVATION OF ENERGY,TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

The information in accordance with the provisions of section 217 (e) of the Companies Act, 1956, read with the Companies (Disclosure of particulars in the Report of Directors) rules, 1988 is give in Annexure 'A' to the report and forms an integral part thereof.

DUES TO FINANCIAL INSTITUTIONS & TAX AUTHORITES:

There are no loans from any financial institutions. The tax payments are generally made well within statutory time limits

INDUSTRIAL RELATIONS:

Your Directors thank all employees for the cooperation & harmonious relationship & progress of the company.

DIRECTORS' RESPONSIBILITY STATEMENT

The Board of Directors of the Company confirms:

i) That in the preparation of annual accounts, the applicable accounting standards have been followed and there has been no material departure;

ii) That the selected accounting policies were applied consistently and the directors made judgment and estimates that are reasonable and prudent so as to give a true and fair view of the company as at 31st March 2011, and of the profit of the company for the year ended on that date.

iii) 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 and detecting frauds and other irregularities.

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

For and on behalf of the Board of Directors

GAUTAM CHAND KAWAR SHANTILAL KAWAR DIRECTOR MANAGING DIRECTOR

Mumbai 23 June, 2011


Mar 31, 2010

The directors hereby present 22nd Annual Report together with the Audited Accounts of the company for the year ended 31st March 2010.

FINANCIAL RESULTS 2009-2010 2008-09

Sales & Other Income 149.86 346.83

Porfit Before Interest & Depreciation 14.52 16.58

Less : Interest 0.17 0.43

Depreciation 14.06 14.22

Loss on Sale of Assets 0.00 0.00

Profit Before Taxation 0.30 1.94

Less:Provision for Taxation 2.54 1.97

Provision for FBT 0.00 0.60

Deferred Tax Asset (2.44) (2.53)

Profit After Taxation 0.20 1.90

Add: (Less) Balance b/f from previous year 39.34 36.93

Add: (Less) : Excess provision for Tax in previous years 0 0.51

Surplus Carried to Balance Sheet 39.34 39.34

To consolidate companys financial position, directors recommend the profit to be carried forward Hence no dividend is proposed.

DIRECTORS

Notices together with money deposits have been received from member pursuant to section 257 of the Companies Act 1956 proposing

AUDITORS AND AUDITORS REPORT

M/s Maheshwari & Jain, Chartered Accountants, the retiring auditors, have granted their consent to act as auditors from the conclusion of this Annual General Meeting till the conclusion of next Annual

General Meeting.

PARTICULARS OF EMPLOYEES

The company had no employee of the category mentioned in section 217(2A) of the Companies Act, 1956.

DEMATERIALISATION OF SAHRES:

The share of the company are presently traded in dematerialized form only. The shareholders are requested to contact their depository participants for demat of shares.

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

The information in accordance with the provision of section 217(I)(e) of the Companies Act, 1956, read with the

Companies (Disclosure of Particular in the Report of Directors) rules, 1988 is give Annexure A to the report and

forms an integral part thereof.

DUES TO FINANCIAL INSTITUTIONS & TAX AUTHORITIES:

There are no loan from any financial institution. The tax payments are generally made well within statutory time limits.

INDUDTRIL RELATIONS:

Your Directors thanks all employee for the cooperation & harmonious relationship & progress of the company.

DIRECTORS RESPONSIBILITY STATMENT

The Board of Directors of the Company confirms:

I) That in the preparation of annual accounts, the applicable accounting standard have

been followed and there has been no material departure. ii) That the selected accounting policies were applied consistently and the directors made judgment and estimates that are reasonable and prudent so as to give a true and fair view of the company as at 31st March 2010, and of the profit of the company for the year ended on that date. iii) That proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provision of the Companies Act 1956, for safeguarding the assets of the company and for preventing and detecting frauds and other irregularities. iv) That the annual accounts have been prepared on a going concern basis.

For and on behalf of the Board of Directors

Mumbai

June 15,2010 GAUTAM CHAND KAWAR SHANTILAL KAWAR

DIRECTOR MANAGING DIRECTOR

 
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