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Directors Report of Rajani Extraction Ltd.

Mar 31, 2014

Dear members,

The Board of Directors of your Company has the pleasure of presenting Annual Report of RAJANI EXTRACTIONS LIMITED together with the Audited Statements of Accounts for the year ended the March 31, 2014.

FINANCIAL PERFORMANCE OF THE COMPANY:

The Company has not received any income during the financial year 2013-14. However, the Company incurred loss of Rs. (30,920,667) the current financial year and hope for better in coming years, even in the downward stream scenario of global financial and capital market. Directors have started to explore various other opportunities to further improve the working results during the current year.

PARTICULARS OF EMPLOYEES:

There is no employee having remuneration with the provisions of section 217(2A) of the companies Act 1956 read with the companies (Particulars of employee) Rules, 1975 as amended.

DIVIDEND:

In view of losses, your Directors do not recommend any dividend during the year.

DIRECTORS:

Mr. Munna Lai Shivnarayan, Director of the Company are liable to retire by rotation at the ensuing Annual General Meeting and being eligible, offer himself for reappointment.

DIRECTORS'' RESPONSIBILITY STATEMENT:

Director confirms that:

The applicable accounting standards have been followed along with proper explanation relating to material departures.

Such accounting policies have been selected and applied consistently and reasonable and prudent judgments and estimates made, 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 the profit/loss of the company for that period.

Proper and sufficient care has been taken for the maintenance of the adequate accounting records in accordance with provisions of this act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities.

The annual accounts have been prepared on a going concern basis.

AUDITORS:

M/S S.N. Kabra & Company, Chartered Accountants, Indore, the retiring auditors being eligible offer themselves for re-appointment. Members are requested to appoint them as auditors of the company for the next year till the conclusion of next Annual General Meeting of the Company.

AUDITORS'' REPORT:

Report of the auditors and their observations and notes to the accounts of the company for the year under review are attached herewith which are self-explanatory and do not require further explanation.

MANAGEMENT DISCUSSION AND ANALYSIS:

Management discussion and analysis Report, pursuant to Clause 49 of the Stock Exchange Listing agreement, forms part of this Report and the same is annexed hereto.

CORPORATE GOVERNANCE:

A comprehensive report on corporate governance as stipulated under Clause 49 of the Listing Agreement is attached to this Report

The Company has obtained a certificate from the Statutory Auditors regarding compliance of conditions of Corporate Governance as stipulated in Clause 49 of the Listing Agreement and the same is annexed at the end of Corporate Governance Report.

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

As the Company''s operations do not involve any manufacturing or processing activities, the particulars as per the Companies (Disclosures of Particulars in the Report of the Board of Directors) Rules, 1998, regarding conservation of energy and technology absorption, are not applicable. The particulars regarding expenditure and earnings in foreign exchange are Nil.

PARTICULARS OF EMPLOYEES:

No employee of the Company was in receipt of remuneration above the limit specified under Section 217(2A) of the Companies Act, 1956.

DEPOSITS:

The company has not accepted any deposit from the public attracting the provision of Sec 58A and 58AA of the Companies Act, 1956.

SEGMENT:

Your Company is engaged in a single segment only.

ACKNOWLEDGEMENT:

The management is grateful to the government authorities, Bankers, Vendors for their continued assistance and co-operation. The directors also wish to place on record the confidence of members in the company.

By Order of the Board of Directors Place : Indore Date : 29/05/2014

Sd/- Sd/- Sd/-

(Jawahar Rajani) (Jagdish Rajani) (Munnalal Shivnarayan) Managing Director Director Director DIN: 03208989 DIN: 03209076 DIN: 03209564


Mar 31, 2013

To The Members of RAJANI EXTRACTIONS LIMITED

The Board of Directors of your Company has the pleasure of presenting Annual Report of RAJANI EXTRACTIONS LIMITED together with the Audited Statements of Accounts for the year ended the March 31, 2013.

FINANCIAL PERFORMANCE OF THE COMPANY:

The Company has not received any income during the financial year 2012-13. However, the Company incurred loss of Rs. (30,920,667) the current financial year and hope for better in coming years, even in the downward stream scenario of global financial and capital market. Directors have started to explore various other opportunities to further improve the working results during the current year.

PARTICULARS OF EMPLOYEES:

There is no employee having remuneration with the provisions of section 217(2A) of the companies Act 1956 read with the companies (Particulars of employee) Rules, 1975 as amended.

DIVIDEND:

In view of losses, your Directors do not recommend any dividend during the year.

DIRECTORS:

Mr. Jagdish Rajani, Director of the Company are liable to retire by rotation at the ensuing Annual General Meeting and being eligible, offer himself for re-appointment.

DIRECTORS'' RESPONSIBILITY STATEMENT:

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

i) That in the preparation of annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures;

ii) That 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 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 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;

iv) That the Directors have prepared the annual accounts for the year ended on March 31, 2013 on a ''going concern basis''.

AUDITORS:

M/S S.N. Kabra & Company, Chartered Accountants, Indore, the retiring auditors being eligible offer themselves for re-appointment. Members are requested to appoint them as auditors of the company for the next year till the conclusion of next Annual General Meeting of the Company.

AUDITORS'' REPORT:

Report of the auditors and their observations and notes to the accounts of the company for the year under review are attached herewith which are self-explanatory and do not require further explanation.

MANAGEMENT DISCUSSION AND ANALYSIS:

Management discussion and analysis Report, pursuant to Clause 49 of the Stock Exchange Listing agreement, forms part of this Report and the same is annexed hereto.

CORPORATE GOVERNANCE:

A comprehensive report on corporate governance as stipulated under Clause 49 of the Listing Agreement is attached to this Report

The Company has obtained a certificate from the Statutory Auditors regarding compliance of conditions of Corporate Governance as stipulated in Clause 49 of the Listing Agreement and the same is annexed at the end of Corporate Governance Report.

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

As the Company''s operations do not involve any manufacturing or processing activities, the particulars as per the Companies (Disclosures of Particulars in the Report of the Board of Directors) Rules, 1998, regarding conservation of energy and technology absorption, are not applicable. The particulars regarding expenditure and earnings in foreign exchange are Nil.

PARTICULARS OF EMPLOYEES:

No employee of the Company was in receipt of remuneration above the limit specified under Section 217(2A) of the Companies Act, 1956.

DEPOSITS:

The company has not accepted any deposit from the public attracting the provision of Sec 58A and 58AA of the Companies Act, 1956.

SEGMENT:

Your Company is engaged in a single segment only.

ACKNOWLEDGEMENT:

The management is grateful to the government authorities, Bankers, Vendors for their continued assistance and co-operation. The directors also wish to place on record the confidence of members in the company.

By Order of the Board of Directors

Place : Indore

Date : 29/05/2013

Sd/- Sd/- Sd/-

(Jawahar Rajani) (Jagdish Rajani) (Munnalal Shivnarayan)

Managing Director Director Director


Mar 31, 2012

To The Members of RAJANI EXTRACTIONS LIMITED

The Board of Directors of your Company has the pleasure of presenting Annual Report of RAJANI EXTRACTIONS LIMITED together with the Audited Statements of Accounts for the year ended the March 31, 2012.

FINANCIAL PERFORMANCE OF THE COMPANY:

The Company has not received any income during the financial year 2011-12. However, the Company incurred loss of Rs. (12,84,54,691) the current financial year and hope for better in coming years, even in the downward stream scenario of global financial and capital market. Directors have started to explore various other opportunities to further improve the working results during the current year.

The revival scheme is pending with BIFR.

The company continued to make payments to creditors, employees, customers for return of advances and other legal/ other expenses out of the sale proceeds received during the financial year 2011-12.

PARTICULARS OF EMPLOYEES:

There is no employee having remuneration with the provisions of section 217(2A) of the companies Act 1956 read with the companies (Particulars of employee) Rules, 1975 as amended.

DIVIDEND:

In view of losses, your Directors do not recommend any dividend during the year.

DIRECTORS:

During the Year Mr. Jagdish Pandya and Mr. Jai Kumar Pandey have been appointed as Additional Directors of the Company w.e.f. 14/08/2012 also Board recommend their appointments as Regular Directors of the Company under section 255 of the Companies Act, 1956 in this Annual General Meeting of the Company, the Board took note of the same.

Mr. Munna Lai Shivnarayan, Director of the Company are liable to retire by rotation at the ensuing Annual General Meeting and being eligible, offer himself for re- appointment.

DIRECTORS'' RESPONSIBILITY STATEMENT:

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

i) That in the preparation of annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures;

ii) That 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 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 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;

iv) That the Directors have prepared the annual accounts for the year ended on March 31, 2012 on a ''going concern basis''.

AUDITORS:

M/S S.N. Kabra & Company, Chartered Accountants, Indore, the retiring auditors being eligible offer themselves for re-appointment. Members are requested to appoint them as auditors of the company for the next year till the conclusion of next Annual General Meeting of the Company.

AUDITORS'' REPORT:

Report of the auditors and their observations and notes to the accounts of the company for the year under review are attached herewith which are self-explanatory and do not require further explanation.

MANAGEMENT DISCUSSION AND ANALYSIS:

Management discussion and analysis Report, pursuant to Clause 49 of the Stock Exchange Listing agreement, forms part of this Report and the same is annexed hereto.

CORPORATE GOVERNANCE:

A comprehensive report on corporate governance as stipulated under Clause 49 of the Listing Agreement is attached to this Report

The Company has obtained a certificate from the Statutory Auditors regarding compliance of conditions of Corporate Governance as stipulated in Clause 49 of the Listing Agreement and the same is annexed at the end of Corporate Governance Report.

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

As the Company''s operations do not involve any manufacturing or processing activities, the particulars as per the Companies (Disclosures of Particulars in the Report of the Board of Directors) Rules, 1998, regarding conservation of energy and technology absorption, are not applicable. The particulars regarding expenditure and earnings in foreign exchange are Nil.

PARTICULARS OF EMPLOYEES:

No employee of the Company was in receipt of remuneration above the limit specified under Section 217(2A) of the Companies Act, 1956.

DEPOSITS:

The company has not accepted any deposit from the public attracting the provision of Sec 58A and 58AA of the Companies Act, 1956.

SEGMENT:

Your Company is engaged in a single segment only.

ACKNOWLEDGEMENT:

The management is grateful to the government authorities, Bankers, Vendors for their continued assistance and co-operation. The directors also wish to place on record the confidence of members in the company.

By Order of the Board of Directors

Place : Indore

Date : 31/07/2012

Sd/- Sd/- Sd/- (Jawahar Rajani) (Jagdish Rajani) (Munnalal Shivnarayan) Managing Director Director Director


Mar 31, 2011

To The Members of RAJANI EXTRACTIONS LIMITED

The Board of Directors of your Company has the pleasure of presenting Annual Report of RAJANI EXTRACTIONS LIMITED together with the Audited Statements of Accounts for the year ended the March 31, 2011.

FINANCIAL PERFORMANCE OF THE COMPANY:

The Company has not received any income during the financial year 2010-11. However, the Company incurred loss of Rs. (12,84,20,651) the current financial year and hope for better in coming years, even in the downward stream scenario of global financial and capital market. Directors have started to explore various other opportunities to further improve the working results during the current year.

The revival scheme is pending with BIFR.

The company continued to make payments to creditors, employees, customers for return of advances and other legal/ other expenses out of the sale proceeds received during the financial year 2010-11.

DIVIDEND:

In view of losses, your Directors do not recommend any dividend during the year.

DIRECTORS:

Mr. Jagdish K Rajani, Director of the Company are liable to retire by rotation at the ensuing Annual General Meeting and being eligible, offer themselves for re- appointment.

DIRECTORS' RESPONSIBILITY STATEMENT:

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

i) That in the preparation of annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures;

ii) That 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 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 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;

iv) That the Directors have prepared the annual accounts for the year ended on March 31, 2011 on a 'going concern basis'.

AUDITORS:

M/S S.N. Kabra & Company, Chartered Accountants, Indore, the retiring auditors being eligible offer themselves for re-appointment. Members are requested to appoint them as auditors of the company for the next year till the conclusion of next Annual General Meeting of the Company.

AUDITORS' REPORT:

Report of the auditors and their observations and notes to the accounts of the company for the year under review are attached herewith which are self-explanatory and do not require further explanation.

MANAGEMENT DISCUSSION AND ANALYSIS:

Management discussion and analysis Report, pursuant to Clause 49 of the Stock Exchange Listing agreement, forms part of this Report and the same is annexed hereto.

CORPORATE GOVERNANCE:

A comprehensive report on corporate governance as stipulated under Clause 49 of the Listing Agreement is attached to this Report.

The Company has obtained a certificate from the Statutory Auditors regarding compliance of conditions of Corporate Governance as stipulated in Clause 49 of the Listing Agreement and the same is annexed at the end of Corporate Governance Report.

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

As the Company's operations do not involve any manufacturing or processing activities, the particulars as per the Companies (Disclosures of Particulars in the Report of the Board of Directors) Rules, 1998, regarding conservation of energy and technology absorption, are not applicable. The particulars regarding expenditure and earnings in foreign exchange are Nil.

PARTICULARS OF EMPLOYEES:

No employee of the Company was in receipt of remuneration above the limit specified under Section 217(2A) of the Companies Act, 1956.

DEPOSITS:

The company has not accepted any deposit from the public attracting the provision of Sec 58A and 58AA of the Companies Act, 1956.

SEGMENT:

Your Company is engaged in a single segment only.

ACKNOWLEDGEMENT:

The management is grateful to the government authorities, Bankers, Vendors for their continued assistance and co-operation. The directors also wish to place on record the confidence of members in the company.

By Order of the Board of Directors

Place : Indore

Date : 30/07/2011 Sd/- Sd/-

(Jawahar Rajani) (Jagdish Rajani)

Managing Director Director


Mar 31, 2010

To The Members of RAJANI EXTRACTIONS LIMITED

The Board of Directors of your Company has the pleasure of presenting Annual Report of RAJANI EXTRACTIONS LIMITED together with the Audited Statements of Accounts for the year ended the March 31, 2010.

FINANCIAL PERFORMANCE OF THE COMPANY:

The Company has not received any income during the financial year 2009-10. However, the Company incurred loss of Rs. (12,83,78,221) the current financial year and hope for better in coming years, even in the downward stream scenario of global financial and capital market. Directors have started to explore various other opportunities to further improve the working results during the current year.

The revival scheme is pending with BIFR.

The company continued to make payments to creditors, employees, customers for return of advances and other legal/ other expenses out of the sale proceeds received during the financial year 2009-10.

DIVIDEND:

In view of losses, your Directors do not recommend any dividend during the year. DIRECTORS:

Mr. Munna Lai Shivnarayan, Director of the Company are liable to retire by rotation at the ensuing Annual General Meeting and being eligible, offer themselves for re- appointment.

DIRECTORS' RESPONSIBILITY STATEMENT:

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

i) That in the preparation of annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures;

ii) That 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 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 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;

iv) That the Directors have prepared the annual accounts for the year ended on March 31, 2010 on a 'going concern basis'.

AUDITORS:

M/S S.N. Kabra & Company, Chartered Accountants, Indore, the retiring auditors being eligible offer themselves for re-appointment. Members are requested to appoint them as auditors of the company for the next year till the conclusion of next Annual General Meeting of the Company.

AUDITORS' REPORT:

Report of the auditors and their observations and notes to the accounts of the company for the year under review are attached herewith which are self- explanatory and do not require further explanation.

MANAGEMENT DISCUSSION AND ANALYSIS:

Management discussion and analysis Report, pursuant to Clause 49 of the Stock Exchange Listing agreement, forms part of this Report and the same is annexed hereto.

CORPORATE GOVERNANCE:

A comprehensive report on corporate governance as stipulated under Clause 49 of the Listing Agreement is attached to this Report.

The Company has obtained a certificate from the Statutory Auditors regarding compliance of conditions of Corporate Governance as stipulated in Clause 49 of the Listing Agreement and the same is annexed at the end of Corporate Governance Report.

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

As the Company's operations do not involve any manufacturing or processing activities, the particulars as per the Companies (Disclosures of Particulars in the Report of the Board of Directors) Rules, 1998, regarding conservation of energy and technology absorption, are not applicable. The particulars regarding expenditure and earnings in foreign exchange are Nil.

PARTICULARS OF EMPLOYEES:

No employee of the Company was in receipt of remuneration above the limit specified under Section 217(2A) of the Companies Act, 1956.

DEPOSITS:

The company has not accepted any deposit from the public attracting the provision of Sec 58A and 58AA of the Companies Act, 1956.

SEGMENT:

Your Company is engaged in a single segment only.

ACKNOWLEDGEMENT:

The management is grateful to the government authorities, Bankers, Vendors for their continued assistance and co-operation. The directors also wish to place on record the confidence of members in the company.

By Order of the Board of Directors

Place : Indore

Date : 03/08/2010 Sd/- Sd/-

(Jawahar Rajani) (Jagdish Rajani)

Managing Director Director

 
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