Mar 31, 2015
The directors present herewith the 34th Annual Report together with
the Audited Statement of Accounts of the Company for the year ended
31st March, 2015.
(Rs. In Lakhs)
FINANCIAL RESULTS 2014-15 2013-14
Total Income 1.53 1.65
Total Expenditure 7.01 9.53
Profit / (Loss)
before Depreciation -7.88 -7.88
Less: Depreciation 1.78 4.59
Net profit before Tax - 7.26 -12.47
Less: Provision for Tax 0.00 0.00
Net Profit -7.26 -12.47
Profit / (Loss) brought
forward from previous year (84.39) ( 71.92)
Balance carried to Balance Sheet (91.65) (84.39)
OPERATIONS:
During the year under review the operations of the company have
remained suspended. The Company has parted with plant and machineries
and other fixed assets. The Company is committed to continue its
activities with the help of its marketing department and is working
hard to create marketing to resumes its trading activities.
OPPORTUNITIES AND RISKS:
Company is in the business of job work operations of solvent extraction
and oil refining and trading of refined oil. Though during the year
under review operations of company are suspended, the Company is
hopeful to revive its operations and efforts are being made in this
regard.
FINANCE:
The Company has not obtained any financial assistance from Banks and
other financial institutions during year under review.
DIVIDEND:
Since the company has suspended its operations your directors do no
recommend any dividend for the year under review.
FIXED DEPOSITS
During the year under review, your Company has neither invited nor
accepted any fixed deposits from the public within the meaning of
Section 58A of the Companies Act, 1956.
DEMATERIALIASATION:
Your Directors are pleased to inform you that, M/S System Support
Services, Mumbai as RTA of the Company for providing better electronic
share trading facility by our share holders.
The equity shares of your Company are being compulsorily traded in
dematerialization form. The ISIN No. is INE421E01012. Nearly 56 % of
the equity shares have been dematerialized form.
DIRECTORS:
During the Financial year under review, Mr AvaneeshSabharwal and
Mr.NitinBhondwe, directors retire by rotation who offers themselves for
reappointment.
DIRCTORS RESPONSIBILITY STATEMENT
Pursuant to the requirement under section 217 (2AA) of the Companies
Act, 1956 with respect to Director's Responsibility Statement, it is
hereby confirmed:
(1) That in the preparation of the accounts for the financial year
ended 31st March 2014; the applicable accounting standards have been
followed along with proper explanation relating to material departures.
(2) That the Directors have adopted such accounting policies and
applied them consistently and made judgments estimates that were
reasonable and prudent so as to give a true and fair view of the state
affair of the Company at the end of the financial year and of the
profit or loss of the company for the year under review.
(3) That the Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with
provisions of the Companies Act, 1956 for safeguarding the assets of
the Company and for preventing and detecting fraud and other
irregularities;
(4) That the Directors have prepared the accounts for the financial
year ended 31st March 2014 on a "going concern" basis.
PARTICULARS OF EMPLOYEES:
During the year under review, there were only 3 employees therefore,.
Provisions of Section 217 (1) (e) of the Companies act, 1956 is not
applicable to the Company.
CORPORATE GOVERNANCE:
As per revised clause 49 of the Listing Agreement with Stock Exchange,
a separate section on Corporate Governance together with a certificate
from Company's Auditors confirming Compliance is set out in the
Annexure forming part of this report.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNING AND OUTGO:
The details required, to the extent applicable, under the Companies
(Disclosure of particulars in the report of Board of Directors) Rules,
1988 are as under and form part of this report. The Company regularly
takes necessary steps to conserve power consumption at its plant in
order to reduce its cost of production.
At present the Company has no specific Research and Development
Department.
During the year under review, the Company neither earned nor spent any
foreign exchange.
AUDITORS:
The company has received a letter of resignation from M/S K.C. Kaushal
& Co. Chartered Accountants, BHOPAL , the present auditor of the
company stating their inability to continue as auditor of the company
due to their preoccupation. Hence to fill the casual vacancy, it has
been decided to appoint M/S Jain Dhureja & Company, Chartered
Accountants, BHOPAL as Auditors of the Company for the current year .
M/S M/S Jain Dhureja & Company being eligible offers them for
re-appointment. Members will be required to appoint Auditors for the
current year till the conclusion of next Annual General Meeting of the
company at remuneration to be fixed by the Board of Directors of the
company.
ACKNOWLEDGEMENT:
Your directors wish to place on record their appreciation for the
support and cooperation, which the Company continues to receive from
its customers, various Govt. Agencies, the Company's Bankers and
employees. The Directors also wish to place on record their
appreciation for the sense of responsibility and team work displayed by
employee at all levels.
For and on behalf of the Board of Directors
Place: Bhopal s/d
Date: 1st September 2015 Director
Mar 31, 2014
Dear members,
The directors present herewith the 31st Annual Report together with
the Audited Statement of Accounts of the Company for the year ended
31st March, 2014.
(Rs. In Lakhs)
FINANCIAL RESULTS 2013-14 2012-13
Total Income 1.65 2.13
Total Expenditure 9.53 9.77
Profit / (Loss) before Depreciation -7.88 -7.65
Less: Depreciation 4.59 4.94
Net profit before Tax -12.47 -12.59
Less: Provision for Tax 0.00 0.00
Net Profit -12.47 -12.59
Profit / (Loss) brought forward from previous year (71.92) (59.33)
Balance carried to Balance Sheet (84.39) (71.92)
OPERATIONS:
During the year under review the operations of the company have
remained suspended. The Company has parted with plant and machineries
and other fixed assets. The Company is committed to continue its
activities with the help of its marketing department and is working
hard to create marketing to resumes its trading activities.
OPPORTUNITIES AND RISKS:
Company is in the business of job work operations of solvent extraction
and oil refining and trading of refined oil. Though during the year
under review operations of company are suspended, the Company is
hopeful to revive its operations and efforts are being made in this
regard.
FINANCE:
The Company has not obtained any financial assistance from Banks and
other financial institutions during year under review.
DIVIDEND:
Since the company has suspended its operations your directors do no
recommend any dividend for the year under review.
FIXED DEPOSITS
During the year under review, your Company has neither invited nor
accepted any fixed deposits from the public within the meaning of
Section 58A of the Companies Act, 1956.
DEMATERIALIASATION:
Your Directors are pleased to inform you that, Bombay stock Exchange
Issued approval for revocation of suspension from trading of Equity
shares of the company w.e.f. 04.07.2014.We may also like to inform you,
we have appointed M/S System Support Services, Mumbai as RTA of the
Company for providing better electronic share trading facility by our
share holders.
The equity shares of your Company are being compulsorily traded in
dematerialization form. The ISIN No. is INE421E01012. Nearly 55 % of
the equity shares have been dematerialised form.
DIRECTORS:
During the year under review, Mr Avaneesh Sabharwal and Mr. Nitin
Bhondwe, directors retire by rotation who offers themselves for
reappointment.
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to the requirement under section 217 (2AA) of the Companies
Act, 1956 with respect to Director''s Responsibility Statement, it is
hereby confirmed:
(1) That in the preparation of the accounts for the financial year
ended 31st March 2014; the applicable accounting standards have been
followed along with proper explanation relating to material departures.
(2) That the Directors have adopted such accounting policies and
applied them consistently and made judgments estimates that were
reasonable and prudent so as to give a true and fair view of the state
affair of the Company at the end of the financial year and of the
profit or loss of the company for the year under review.
(3) That the Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with
provisions of the Companies Act, 1956 for safeguarding the assets of
the Company and for preventing and detecting fraud and other
irregularities;
(4) That the Directors have prepared the accounts for the financial
year ended 31st March 2014 on a "going concern" basis.
PARTICULARS OF EMPLOYEES:
During the year under review, there were no employees, covered under
section 217 (2A) of the Companies Act, 1956. Provisions of Section 217
(1) (e) of the Companies act, 1956 is not applicable to the Company.
CORPORATE GOVERNANCE:
As per revised clause 49 of the Listing Agreement with Stock Exchange,
a separate section on Corporate Governance together with a certificate
from Company''s Auditors confirming Compliance is set out in the
Annexure forming part of this report.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNING AND OUTGO:
The details required, to the extent applicable, under the Companies
(Disclosure of particulars in the report of Board of Directors) Rules,
1988 are as under and form part of this report. The Company regularly
takes necessary steps to conserve power consumption at its plant in
order to reduce its cost of production.
At present the Company has no specific Research and Development
Department.
During the year under review, the Company neither earned nor spent any
foreign exchange.
AUDITORS:
M/S K. C. KOSHAL& Company, Chartered accountants, being eligible as
statutory auditors of the company, offers themselves for
re-appointment. Members will be required to appoint Auditors for the
current year till the conclusion of next Annual General Meeting of the
company at remuneration to be fixed by the Board of Directors of the
company.
ACKNOWLEDGEMENT:
Your directors wish to place on record their appreciation for the
support and cooperation, which the Company continues to receive from
its customers, various Govt. Agencies, the Company''s Bankers and
employees. The Directors also wish to place on record their
appreciation for the sense of responsibility and team work displayed by
employee at all levels.
For and on behalf of the Board of Directors
Place: Bhopal s/d
Date: 1st September 2014 Director
Mar 31, 2013
To The Members of Progressive Extractions & Exports Limited
The directors present herewith the 31st Annual Report together with
the Audited Statement of Accounts of the Company for the year ended
31st March, 2013.
(Rs. In Lakhs)
FINANCIAL RESULTS 2012-13 2011-12
Total Income 2.13 3.75
Total Expenditure 9.77 0.44
Profit / (Loss) before Depreciation -7.65 3.31
Less: Depreciation 4.94 0.41
Net profit before Tax -12.59 2.90
Less: Provision for Tax 0.00 0.00
Net Profit -12.59 2.90
Profit / (Loss) brought forward
from previous year (59.33) ( 62.23)
Balance carried to Balance Sheet (71.92) (59.33)
OPERATIONS:
During the year under review the operations of the company have
remained suspended. The Company has parted with plant and machineries
and other fixed assets. The Company is committed to continue its
activities with the help of its marketing department and is working
hard to create marketing to resumes its trading activities.
OPPORTUNITIES AND RISKS:
Company is in the business of job work operations of solvent extraction
and oil refining and trading of refined oil. Though during the year
under review operations of company are suspended, the Company is
hopeful to revive its operations and efforts are being made in this
regard.
FINANCE:
The Company has not obtained any financial assistance from Banks and
other financial institutions during year under review.
DIVIDEND:
Since the company has suspended its operations your directors do no
recommend any dividend for the year under review.
FIXED DEPOSITS
During the year under review, your Company has neither invited nor
accepted any fixed deposits from the public within the meaning of
Section 58A of the Companies Act, 1956.
DEMATERIALIASATION:
The equity shares of your Company are being compulsorily traded in
dematerialization form. The ISIN No. is INE421E01012. Nearly 42.78 % of
the equity shares have been dematerialised form.
DIRECTORS:
During the year under review, Mr AvaneeshSabharwal and Mr. NitinBhondwe,
directors retire by rotation who offers themselves for reappointment.
DIRCTORS RESPONSIBILITY STATEMENT
Pursuant to the requirement under section 217 (2AA) of the Companies
Act, 1956 with respect to Director''s Responsibility Statement, it is
hereby confirmed:
(1) That in the preparation of the accounts for the financial year
ended 31st March 2013; the applicable accounting standards have been
followed along with proper explanation relating to material departures.
(2) That the Directors have adopted such accounting policies and
applied them consistently and made judgments estimates that were
reasonable and prudent so as to give a true and fair view of the state
affair of the Company at the end of the financial year and of the
profit or loss of the company for the year under review.
(3) That the Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with
provisions of the Companies Act, 1956 for safeguarding the assets of
the Company and for preventing and detecting fraud and other
irregularities;
(4) That the Directors have prepared the accounts for the financial
year ended 31st March 2013 on a "going concern" basis.
PARTICULARS OF EMPLOYEES:
During the year under review, there were no employees, covered under
section 217 (2A) of the Companies Act, 1956. Provisions of Section 217
(1) (e) of the Companies act, 1956 is not applicable to the Company.
CORPORATE GOVERNANCE:
As per revised clause 49 of the Listing Agreement with Stock Exchange,
a separate section on Corporate Governance together with a certificate
from Company''s Auditors confirming Compliance is set out in the
Annexure forming part of this report.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNING AND OUTGO:
The details required, to the extent applicable, under the Companies
(Disclosure of particulars in the report of Board of Directors) Rules,
1988 are as under and form part of this report. The Company regularly
takes necessary steps to conserve power consumption at its plant in
order to reduce its cost of production.
At present the Company has no specific Research and Development
Department.
During the year under review, the Company neither earned nor spent any
foreign exchange.
AUDITORS:
M/S K. C. KOSHAL& Company, Chartered accountants, being eligible as
statutory auditors of the company, offers themselves for
re-appointment. Members will be required to appoint Auditors for the
current year till the conclusion of next Annual General Meeting of the
company at remuneration to be fixed by the Board of Directors of the
company.
ACKNOWLEDGEMENT:
Your directors wish to place on record their appreciation for the
support and cooperation, which the Company continues to receive from
its customers, various Govt. Agencies, the Company''s Bankers and
employees. The Directors also wish to place on record their
appreciation for the sense of responsibility and team work displayed by
employee at all levels.
For and on behalf of the Board of Directors
Place: Bhopal s/d
Date: 1st September 2013 Director
Mar 31, 2012
To The Members of Progressive Extractions & Exports Limited
The directors present herewith the 31st Annual Report together with
the Audited Statement of Accounts of the Company for the year ended
31st March, 2012.
(Rs. In Lakhs)
FINANCIAL RESULTS 2011-12 2010-11
(in Rs.) (in Rs.)
Total Income 3.75 3.90
Total Expenditure 0.44 0.19
Profit / (Loss) before Depreciation 3.31 3.71
Less: Depreciation 0.41 2.80
Net profit before Tax 2.90 0.91
Less: Provision for Tax 0.00 0.00
Net Profit 2.90 0.91
Profit / (Loss) brought forward from
previous year (63.14) (63.14)
Balance carried to Balance Sheet (59.34) (62.23)
OPERATIONS :
During the year under review the operations of the company have
remained suspended. The Company has parted with plant and machineries
and other fixed assets. The Company is committed to continue its
activities with the help of its marketing department and is working
hard to create a marketing to resumes its trading activities.
OPPORTUNITIES AND RISKS:
Company is in the business of job work operations of solvent extraction
and oil refining and trading of refined oil. Though during the year
under review operations of company are suspended, the Company is
hopeful to revive its operations and efforts are being made in this
regard.
FINANCE:
The Company has not obtained any financial assistance from Banks and
other financial institutions during year under review.
DIVIDEND:
Since the company has suspended its operations your directors do no
recommend any dividend for the year under review.
FIXED DEPOSITS
During the year under review, your Company has neither invited nor
accepted any fixed deposits from the public within the meaning of
Section 58A of the Companies Act, 1956.
DEMATERIALIASATION:
The equity shares of your Company are being compulsorily traded in
dematerialization form. The ISIN No. is INE421E01012. Nearly 8.5 % of
the equity shares have been dematerialised form.
DIRECTORS:
During the year under review, Mr AvaneeshSabharwal and Mr.NitinBhondwe,
directors retire by rotation who offer themselves for reappointment.
DIRCTORS RESPONSIBILITY STATEMENT
Pursuant to the requirement under section 217 (2AA) of the Companies
Act, 1956 with respect to Director's Responsibility Statement, it is
hereby confirmed:
(1) That in the preparation of the accounts for the financial year
ended 31st March 2012, the applicable accounting standards have been
followed along with proper explanation relating to material departures.
(2) That the Directors have adopted such accounting policies and
applied them consistently and made judgments estimates that were
reasonable and prudent so as to give a true and fair view of the state
affair of the Company at the end of the financial year and of the
profit or loss of the company for the year under review.
(3) That the Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with
provisions of the Companies Act, 1956 for safeguarding the assets of
the Company and for preventing and detecting fraud and other
irregularities;
(4) That the Directors have prepared the accounts for the financial
year ended 31st March 2012 on a "going concern" basis.
PARTICULARS OF EMPLOYEES:
During the year under review, there were no employees, covered under
section 217 (2A) of the Companies Act, 1956. Provisions of Section 217
(1) (e) of the Companies act, 1956 is not applicable to the Company.
CORPORATE GOVERNANCE:
As per revised clause 49 of the Listing Agreement with Stock Exchange,
a separate section on Corporate Governance together with a certificate
from Company's Auditors confirming Compliance is set out in the
Annexure forming part of this report.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNING AND OUTGO:
The details required, to the extent applicable, under the Companies
(Disclosure of particulars in the report of Board of Directors) Rules,
1988 are as under and form part of this report. The Company regularly
takes necessary steps to conserve power consumption at its plant in
order to reduce its cost of production.
At present the Company has no specific Research and Development
Department.
During the year under review, the Company neither earned nor spent any
foreign exchange.
AUDITORS:
M/S K. C. KOSHAL& Company, Chartered accountants, being eligible as
statutory auditors of the company, offers themselves for
re-appointment. Members will be required to appoint Auditors for the
current year till the conclusion of next Annual General Meeting of the
company at remuneration to be fixed by the Board of Directors of the
company.
ACKNOWLEDGEMENT:
Your directors wish to place on record their appreciation for the
support and cooperation, which the Company continues to receive from
its customers, various Govt. Agencies, the Company's Bankers and
employees. The Directors also wish to place on record their
appreciation for the sense of responsibility and team work displayed by
employee at all levels.
For and on behalf of the Board of Directors
Place : Bhopal s/d
Date : 1st September 2012 Director