Mar 31, 2014
Dear Members,
The Directors hereby present their Report on the business and
operations of the Company and the Financial Accounts for the year ended
31st March, 2014:
1. FINANCIAL RESULTS:
For the year For the year
ended 31st ended 31st
March, 2014 March, 2013
Profit before taxation 17,419 227,230
Less: Provision for taxation
Current tax 3,500 17,000
Profit after taxation 13,919 2,10,230
Add: Balance brought forward from
earlier year 49,72,590 47,62,360
Balance carried to Balance Sheet 49,86,509 49,72,590
2. DIVIDEND:
The Directors do not recommend any dividend for the financial year
ended 31st March, 2014.
3. OPERATIONS:
The Company has stopped carrying on the work of converting Digital
Electronics Products and has rented out the factory premises.
4. DEPOSITS:
The Company has not accepted any Deposits from the Public.
5. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO:
There is no information as per Section 217(1)(e) of the Companies Act,
1956 read with Companies (Disclosure of Particulars in the Report of
Board of Directors) Rules, 1988 regarding conservation of energy,
technology absorption and foreign exchange earnings and outgo for
disclosure as the company is an Investment Company.
6. DIRECTORS:
In accordance with the provisions of the Act and the Company''s Articles
of Association, Mrs. Maureen Wadia (DIN: 01354046) retires by rotation
and is eligible for re-appointment.
7. DIRECTORS'' RESPONSIBILITY STATEMENT:
Pursuant to Section 217(2AA) of the Companies Act, 1956, the Directors,
based on the representations from the Operating Management, confirm
that:
i) in the preparation of the Annual Accounts, the applicable accounting
standards have been followed along with proper explanations.
ii) they have, in selection of accounting policies consulted the
Statutory Auditors and applied them consistently and made judgements
and estimates that are 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 of the company for that period;
iii) they have taken proper and sufficient care, to the best of their
knowledge and ability, for the maintenance of adequate accounting
records in accordance with the provisions of this Act for safeguarding
the assets of the Company and for preventing and detecting fraud and
other irregularities;
iv) they have prepared the Annual Accounts on a going concern basis.
8. DISCLOSURE UNDER SECTION 217(2A) OF THE COMPANIES ACT, 1956:
The Company has no employees covered under Section 217(2A) of the
Companies Act, 1956.
9. CORPORATE GOVERNANCE
Pursuant to Clause 49 of the Listing Agreement a Management Discussion
and Analysis Report is given in Annexure ''A'' to this Report. A separate
report on Corporate Governance and a certificate from the Statutory
Auditors of the Company regarding compliance of the condition of
Corporate Governance are annexed to this Report as Annexure ''B''
10. SECRETARIAL COMPLANCE CERTIFICATE
In accordance with Section 383A of the Companies Act, 1956 and
Companies (Compliance Certificate) rules, 2001, the Company has
obtained a certificate from a Secretary in whole-time practice
confirming that the Company has complied with all the provisions of the
Act.
11. AUDITORS
M/s. D. R. Kothari & Co, Chartered Accountants, who are the Statutory
Auditors of the Company, hold office upto the conclusion of the ensuing
Annual General Meeting. Pursuant to the provisions of Section 139 of
the Companies Act, 2013 ("the Act") and the rules made thereunder, the
Board recommends the re-appointment of M/s. D. R. Kothari & Co as
auditors of the Company. If reappointed, they will hold office from the
conclusion of the current AGM to the conclusion of the following AGM.
11. SHAREHOLDING PATTERN AS ON 31st MARCH, 2014.
No. of Shares %
Promoter Group * 146,843 73.42
Others 53,157 26.58
Total 2,00,000 100
* Promoter Group Companies
Mr. Jehangir N. Wadia, Sunflower Investments & Textiles Private
Limited, Tristar Charitable Foundation, Wadia Investments Limited, M.
S. I. L. Investments Private Limited, Varnilam Investments & Trading
Co. Limited and N. W. Export Limited.
By Order of the Board of Directors
For OSEASPRE CONSULTANTS LIMITED
)
D. S. Gagrat )
00017082 ) DIRECTORS
)
R. E. Vandrewala )
00017178 )
Mumbai,
Dated: 26th May, 2014
Registered Office:
Neville House,
J. N. Heredia Marg,
Ballard Estate, Mumbai 400 001
Mar 31, 2012
The Directors hereby present their Report on the business and
operations of the Company and the Financial Accounts for the year ended
31st March, 2012:
1. FINANCIAL RESULTS:
(Rupees) (Rupees)
Profit before taxation 258,320 190,990
Less: Provision for taxation
Current tax 37,000 -
Deferred tax - -
Short provision of tax for earlier years 9,639 -
46,639 -
Profit after taxation 211,681 190,990
Add: Balance brought forward from
earlier year 4,550,679 4,359,689
Balance carried to Balance Sheet 4,762,360 4,550,679
2. DIVIDEND:
The Directors do not recommend any dividend for the year ended 31st
March, 2012.
3. OPERATIONS:
The Company has stopped carrying on the work of converting Digital
Electronics Products and has rented out the factory premises.
4. DEPOSITS:
The Company has not accepted any Deposits from the Public.
5. DIRECTORS:
Mr. D. S. Gagrat retires by rotation, and is eligible, for
reappointment.
6. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE,
EARNINGS AND OUTGO:
There is no information as per Section 217(l)(e) of the Companies Act,
1956 read with Companies (Disclosure of particulars in the report of
Board of Directors) Rules, 1988 regarding conservation of energy,
technology absorption and foreign exchange earnings and outgo for
disclosure as the company is an Investment Company.
7. DIRECTORS'' RESPONSIBILITY STATEMENT:
Pursuant to Section 217(2AA) of the Companies Act, 1956, the Directors,
based on the representations from the Operating Management, confirm
that:
i) in the preparation of the Annual Accounts, the applicable accounting
standards have been followed.
ii) they have, in selection of accounting policies consulted the
Statutory Auditors 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 at the end of the
financial year and of the profit of the company for that period;
iii) they have taken proper and sufficient care, to the best of their
knowledge and ability, for the maintenance of adequate accounting
records in accordance with the provisions of this Act for safeguarding
the assets of the Company and for preventing and detecting fraud and
other irregularities;
iv) they have prepared the Annual Accounts on a going concern basis.
8. DISCLOSURE UNDER SECTION 217(2A) OF THE COMPANIES ACT, 1956:
The Company has no employees covered under Section 217(2A) of the
Companies Act, 1956.
9. SECRETARIAL COMPLANCE CERTIFICATE
In accordance with Section 383A of the Companies Act, 1956 and
Companies (Compliance Certificate) rules, 2001, the Company has
obtained a certificate from a Secretary in whole-time practice
confirming that the Company has complied with all the provisions of the
Act.
10. AUDITORS:
You are required to appoint Auditors for the current year and fix their
remuneration. The retiring Auditors M/s. D. R. Kothari & Co., offer
themselves for re- appointment.
11. SHAREHOLDING PATTERN AS ON 31st MARCH, 2012.
No. of Shares %
Promoter Group * 147,043 73.52
Others 52,957 26.48
TOTAL 2,00,000 100
* Promoter Group Companies
Mr. Nusli N. Wadia and his relatives in terms of Section 6 of the
Companies Act, 1956, Ms. Dina N Wadia, Ms. Diana Claire Wadia, Ms.
Elizabeth Anne Guhl, Ms. Bachoobai W. Daschkow, Jer Mavis Settlement
No. II, Diana Claire Wadia Trust, Nusli Neville Wadia Trust, N. N.
Wadia - Administrator of Estate of Late E. F. Dinshaw, Nowrosjee Wadia
& Sons Limited, N. W. Exports Limited, Damascus Investments & Trading
Co. Ltd., Archway Investments Co. Ltd., Jehreen Investments Pvt. Ltd.,
Lochness Investments Pvt. Ltd., Gherzi Eastern Investments Ltd.,
Nessville Trading Pvt. Ltd., Pointers Export Pvt. Ltd., Sunflower
Investments & Textiles Pvt. Ltd., Go Investments & Trading Pvt. Ltd.,
The Bombay Burmah Trading Corporation Ltd., National Peroxide Ltd.,
Naperol Investments Ltd., Vamilam Investments & Trading Co. Ltd.,
Gherzi Eastern Ltd., Ben Nevis Investments Ltd., New Point Enterprises
Ltd., Macrofil Investments Ltd., Lotus Viniyog Private Ltd., Botanium
Ltd., Go Airlines (India) Ltd., Nidhivan Investments & Trading Co. Pvt.
Ltd., Heera Holdings & Leasing Pvt. Ltd., Sahara Investments Pvt. Ltd.,
and their holding companies, subsidiary companies and associates.
By Order of the Board of Directors
For OSEASPRE CONSULTANTS LIMITED
DIRECTORS
Place: Mumbai.
Date: 31 MAY 2012
Registered Office:
Neville House,
J. N. Heredia Marg,
Ballard Estate,
Mumbai 400 001
Mar 31, 2011
The Directors hereby present their Report on the business and
operations of the Company and the Financial Accounts for the year ended
31st March, 2011:
1. FINANCIAL RESULTS:
For the year For the year
ended 31st ended 31st
March, 2011 March, 2010
(Rupees) (Rupees)
Profit before taxation 190,990 25,551
Less: Provision for taxation
Current tax - -
Deferred tax - -
Profit after taxation 190,990 25,551
Add: Balance brought forward from
earlier year 4,359,689 4,334,138
Balance carried to Balance Sheet 4,550,679 4,359,689
2. DIVIDEND:
The Directors do not recommend any dividend for the year ended 31st
March, 2011.
3. OPERATIONS:
The Company is carrying on the work of converting Digital Electronics
Products.
4. DEPOSITS:
The Company has not accepted any Deposits from the Public.
5. DIRECTORS:
Mrs. M.N. Wadia retires by rotation, and is eligible, for
reappointment.
6. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE,
EARNINGS AND OUTGO:
There is no information as per Section 217(1)(e) of the Companies Act,
1956 read with Companies (Disclosure of particulars in the report of
Board of Directors) Rules, 1988 regarding conservation of energy,
technology absorption and foreign exchange earnings and outgo for
disclosure as the company is an Investment Company.
7. DIRECTORS' RESPONSIBILITY STATEMENT:
As required under section 217(2AA) of the Companies Act, 1956, which
was introduced by the Companies (Amendment) Act, 2000 (53 of 2000), the
Directors confirm that:
i) In the preparation of the annual accounts, the applicable accounting
standards have been followed.
ii) They had selected such accounting policies and applied them
consistently and made judgements 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 on 31st March, 2011 and of the Profit of the Company for
the year ended 31st March, 2011.
iii) They have taken proper and sufficient care for the maintenance of
adequate accounting records in accordance with the provisions of this
Act for safeguarding the assets of the Company for preventing and
detecting fraud and other irregularities;
iv) They have prepared the annual accounts on a going-concern basis.
8. DISCLOSURE UNDER SECTION 217(2A) OF THE COMPANIES ACT, 1956:
The Company has no employees covered under Section 217(2A) of the
Companies Act, 1956.
9. SECRETARIAL COMPLANCE CERTIFICATE
In accordance with Section 383A of the Companies Act, 1956 and
Companies (Compliance Certificate) rules, 2001, the Company has
obtained a certificate from a Secretary in whole-time practice
confirming that the Company has complied with all the provisions of the
Act.
10. AUDITORS:
The Members are requested to appoint Messrs. D. R. Kothari & Co.,
Chartered Accountants as Auditor of the Company at a remuneration to be
fixed by the Board of Directors.
11. SHAREHOLDING PATTERN AS ON 31st MARCH, 2011.
No. of Shares %
Promoter Group * 147,043 73.52
Others 52,957 26.48
OSEASPRE CONSULTANTS LIMITED
* Promoter Group Companies
Mr. Nusli N. Wadia and his relatives in terms of Section 6 of the
Companies Act, 1956, Ms.Dina N Wadia, Ms. Diana Claire Wadia, Ms
Elizabeth Anne Guhl, Ms. Bachoobai W. Daschkow, Jer Mavis Settlement
No. II, Diana Claire Wadia Trust, Nusli Neville Wadia trust, N.N. Wadia
- Administrator of Estate of Late E.F. Dinshaw, Nowrosjee Wadia & Sons
Limited, N.W. Exports Limited, Damascus Investments & Trading Co. Ltd.,
Archway Investments Co. Ltd., Jehreen Investments Pvt. Ltd., Lochness
Investments Pvt. Ltd., Gherzi Eastern Investments Ltd., Nessville
Trading Pvt. Ltd., Pointers Export Pvt. Ltd., Sunflower Investments &
Textiles Pvt. Ltd., Go Investments & Trading Pvt. Ltd., The Bombay
Burmah Trading Corporation Ltd., National Peroxide Ltd., Naperol
Investments Ltd., Varnilam Investments & Trading Co. Ltd., Gherzi
Eastern Ltd., Ben Nevis Investments Ltd., New Point Enterprises Ltd.,
Macrofil Investments Ltd., Lotus Viniyog Private Ltd., Botanium Ltd.,
Go Airlines (India) Ltd., Nidhivan Investments & Trading Co. Pvt. Ltd.,
Heera Holdings & Leasing Pvt. Ltd., Sahara Investments Pvt. Ltd., and
their holding companies, subsidiary companies and associates.
By Order of the Board of Directors
For OSEASPRE CONSULTANTS LIMITED
Sd/-
Mr.D.S. Gagrat DIRECTORS
Sd/-
Mrs.R.E.Vandrewala
Mumbai, 31st May, 2011.
Registered Office:
Neville House,
J.N.Heredia Marg, Ballard Estate,
Mumbai 400 001
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