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Directors Report of Parab Infra Ltd.

Mar 31, 2010

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

FINANCIAL PERFORMANCE:

During the year the Company has suffered a loss of Rs. 18,25,324.

DIVIDEND

The Directors do not recommend any dividend for the year ended 31 st March, 2010.

PROSPECTS IN THE COMING YEAR:

With the induction of new Directors on the Board, the Company is proposing to enter into new areas of business such as Trading in various goods and commodities, entering into Infrastructure ventures with the associate companies. The existing market is prospective in the Trading and Infrastructure activities and the Company will take the benefit by utilizing its resources in optimum level.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to the requirement under Section 217(2AA) of the Companies Act, 1956 with respect to the Directors Responsibility Statement, it is hereby confirmed:

(i) that in the preparation of Annual Accounts for the financial year ended 31st March 2010, the applicable Accounting Standards had been followed along with proper explanation relating to material departures;

(ii) that the directors had selected such accounting policies and applied them 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 the year under review;

(iii) that the directors had 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 fraud and other irregularities;

(iv) that the directors had prepared the accounts on a going concern basis.

DIRECTORS

During the year, the Board had appointed Shri. Padamchand Dhoot, Shri. Santosh Mohite, Smt. Vidya Chalke, Shri. Ramavtar Shekhawat, Shri. Vijay Pandhere and Shri. Brijesh Mourya as an Additional Directotrs on the Board.

During the year, the Company had appointed Shri. Padamchand Dhoot as a Managing Director w.e.f. 17th August, 2010 subject to the approval of the members and such other authorities as may be required.

Retirement of Director :

Mr. Suneel Parikh, Mr. Navneet Parikh, Mr. Vinod. K Jain and Mr. Pankaj Jain, who retires by rotation and in respect of change in control of management of the Company, they does not offer themselves for re-appointment.

AUDITORS OBSERVATIONS/QUALIFICATIONS:

The report of the Auditors of the Company for the year under reference is self explanatory and do not call for any comments from Director.

DEPOSITS:

During the year under review, the Company did not accept any deposit from the public within the meaning of Section 58A of the Companies Act, 1956 read with the Companies (Acceptance of Deposits) Rule, 1975 as amended.

AUDITORS:

In terms of provisions of the Companies Act, 1956, members are requested to appoint the Auditors of the Company.

PARTICULAR OF EMPLOYEES:

Pursuant to Section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975 as amended, your Company has no person in its employment drawing salary within the monetary ceiling prescribed under section 217 (2A) of the Companies Act, 1956.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO:

There is no manufacturing or trading activities of the company. Your directors have noting to report under this head.

CORPORATE GOVERNANCE:

The disclosures as required under the Corporate Governance standards have been furnished as a part of this report. The Company has been practicing the principles of good corporate governance. In addition to basic governance issues, the Board lays strong emphasis on transparency, accountability and integrity.

LISTING OF SHARES:

The shares of the Company are listed at The Bombay Stock Exchange Limited, Mumbai and applicable listing fees have been paid within the prescribed time limits.

ACKNOWLEDGEMENT:

Your Directors wish to place on record their appreciation for the continued support from the Shareholders, Investors, Customers, Suppliers and Bankers. Your Directors place on record their appreciation of the consistent contribution made by employees at all levels through their hard work, dedication, solidarity cooperation and acknowledge that their supports had enabled the Company to achieve new heights of success.

For and on behalf of the Board

Managing Director

Place: Mumbai Date : 17th August, 2010





 
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