Home  »  Company  »  Rapid Investment  »  Quotes  »  Directors Report
Enter the first few characters of Company and click 'Go'

Directors Report of Rapid Investments Ltd.

Mar 31, 2014

The Members,

The Directors of your company have pleasure in presenting to you the 36th Annual Report together with the Audited Statements of Accounts for the year ended on 31st March, 2014.

FINANCIAL RESULTS

Current Year Previous Year Particulars 2013-2014 2012-2013 (Amount in Rs) (Amount in Rs)

Profit before Depreciation and Taxes 59494 151958

Less : Depreciation - 39799

Profit for the year 59494 112159

Less : Tax Provision 11400 22000

Less : Income Tax Adjustment of earlier yeas - 150

Profit after Tax 48094 90009

Add ; Balance brought forward 1785440 1695431

Balance carried to Balance Sheet 1833534 1785440

DIVIDEND

In view of the meager amount of profit during the year and to strengthen the financial position of the company, your directors have not recommended any dividend for the year.

PARTICULARS OF EMPLOYEES

There was no employee during the year, covered by section 217 (2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975.

AUDITORS AND AUDIT REPORT

M/s Chaturvedi Sohan & Co., Chartered Accountants, Mumbai, the Statutory Auditors of the Company, hold office until the ensuing Annual General Meeting. The said Auditors have furnished the Certificate of their eligibility for re-appointment. Pursuant to the provisions of Section 139 of the Companies Act, 2013 and the Rules framed thereunder, the Audit Committee has proposed to appoint M/s Chaturvedi Sohan & Co., as Statutory Auditors of the Company from the conclusion of this Annual General Meeting for a period of 3 years, subject to the approval of shareholders and ratification of their appointment at the subsequent Annual General Meeting.

DIRECTORATE:

Shri, Niraj Rathore & Shri. Jitendra Nigam is being eligible for appointment as Independent Director.

COMPLIANCE CERTIFICATE

Your Company has complied with all the provisions of Companies Act, 1956; a certificate to this effect has been obtained from Practicing Company Secretary, Mumbai, a copy of which is annexed below.

PARICULARS OF ENERGY CONSERVATION. TECHNOLOGY ABSORBTION AND FOREIGN EXCHANGE OUTGO

The Company is not covered under any of the industry specified in Schedule under rule 2(A) of the Companies- (Disclosure of particulars in the Report of Board of Directors) Rules, 1988 as such the Company is not required to submit particulars of Energy Conservation as required under Rule 2(A) and there is no activity which should be disclosed as per rule 2(B) and 2(C) about Technology Absorption and Foreign outgo.

DIRECTOR RESPONSIBILITY STATEMENT

Your Directors confirm;

a) That in the preparation of the Annual Accounts, the applicable accounting standards have been followed and that no material departures have been made from the same.

b) That they 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 affairs of the company at the end of the financial year and of the Profit or Loss of the Company for the period;

c) That they 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;

d) That they have prepared the Annual Accounts on a going concern basis.

CORPORATE GOVERANCE

Pursuant to Clause 49 to the Listing Agreement with the Stock Exchange, a Management Discussion and Analysis, Corporate Governance Report and Auditors'' Certificate regarding compliance of conditions of Corporate Governance form part of this Report.

FOR AND ON BEHALF OF THE BOARD

-sd- Place: Mumbai (Nina Ranka) Date: 29th July, 2014 DIRECTOR


Mar 31, 2013

To, The Members,

The Directors of your company have pleasure in presenting to you the 35th Annual Report together with the Audited Statements of Accounts for the year ended on 31st March, 2013.

FINANCIAL RESULT

Current Year Previous Year Particulars 2012-2013 2011-2012 (Amount in Rs.) (Amount in Rs.)

Profit before Depreciation and Taxes 151958 334347

Less : Depreciation 39799 133426

Profit for the year 112159 200921

Less : Tax Provision 22000 38285

Less : Income Tax Adjustment of earlier year 150 (87)

Profit after Tax 90009 162723

Add : Balance brought forward 1695431 1532708

Balance carried to Balance Sheet 1785440 1695431

DIVIDEND

In view of the meager amount of profit during the year and to strengthen the financial position of the company, your directors have not recommended any dividend for the year.

PARTICULARS OF EMPLOYEES

There was no employee during the year, covered by section 217 (2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975.

AUDITORS AND AUDIT REPORT

M/s Chaturvedi Sohan & Co., Chartered Accountants, Mumbai will cease to be Auditors of the Company at the conclusion of the ensuing Annual General Meeting and being eligible offer themselves for re-appointment.

COMPLIANCE CERTIFICATE

Your Company has complied with all the provisions of Companies Act, 1956; a certificate to this effect has been obtained from Practicing Company Secretary, Mumbai, a copy of which is enclosed.

PARICULARS OF ENERGY CONSERVATION, TECHNOLOGY ABSORBTION AND FOREIGN EXCHANGE OUTGO

The Company is not covered under any of the industry specified in Schedule under rule 2(A) of the Companies (Disclosure of particulars in the Report of Board of Directors) Rules, 1988 as such the Company is not required to submit particulars of Energy Conservation as required under Rule 2(A) and there is no activity which should be disclosed as per rule 2(B) and 2(C) about Technology Absorption and Foreign outgo,

RESPONSIBILITY STATEMENT

Your Directors confirm:

a) That in the preparation of the Annual Accounts, the applicable accounting standards have been followed and that no material departures have been made from the same.

b) That they 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 affairs of the company at the end of the financial year and of the Profit or Loss of the Company for the period;

c) That they 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;

d) That they have prepared the Annual Accounts on a going concern basis.

CORPORATE GOVERANCE

The Company is making all efforts for complying the provisions relating to corporate Governance pursuant to clause 49 of the Listing Agreement with Stock Exchange.



FOR AND ON BEHALF OF THE BOARD

Place: Mumbai (Nina Ranka)

Date 30th May, 2013 DIRECTOR


Mar 31, 2010

The Directors of your company have pleasure in presenting to you the 31st Annual Report together with the Audited Statements of Accounts for the year ended on 31st March, 2010. FINANCIAL RESULT

Current Year Previous Year

Particulars 2009-2010 2008-2009 (Amount in Rs.) (Amount in Rs.)

Profit before Depreciation and Taxes 64699 257584

Less : Depreciation 45039 212580

Profit for the year 19660 45004

Less : Tax Provision 3100 4635

Less : FBT Provision -- 3013

Less : Income Tax Adjustment of earlier years 161 5886

Profit after Tax 16399 31470

Add : Balance brought forward 1356401 1324931

Balance carried to Balance Sheet 1372800 1356401



DIVIDEND

In view of the meagre amount of profit earned by the company, your directors have not recommended any dividend for the year.

PARTICULARS OF EMPLOYEES

There was no employee during the year, covered by section 217 (2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975.

DIRECTORS

Shri Jitendra Nigam retires at the ensuing Annual General Meeting and being eligible offers himself for re-appointment.

AUDITORS AND AUDIT REPORT

M/s Chaturvedi Sohan & Co., Chartered Accountants, Mumbai will cease to be Auditors of the Company at the conclusion of the ensuing Annual General Meeting and being eligible offer themselves for re-appointment.

TRADING OF SHARES ON STOCK EXCHANGE

Trading of equity share of the company on the Mumbai stock exchanges is suspended. The company is taking necessary steps for getting the suspension revoked.

COMPLIANCE CERTIFICATE Your Company has complied with all the provisions of Companies Act, 1956, a certificate to this effect has been obtained from Practicing Company Secretary, Mumbai, a copy of which is enclosed.

PARICULARS OF ENERGY CONSERVATION, TECHNOLOGY ABSORBTION AND FOREIGN EXCHANGE OUTGO

The Company is not covered under any of the industry specified in Schedule under rule 2(A) of the Companies (Disclosure of particulars in the Report of Board of Directors) Rules, 1988 as such the Company is not required to submit particulars of Energy Conservation as required under Rule 2(A) and there is no activity which should be disclosed as per rule 2(B) and 2(C) about Technology Absorption and Foreign outgo.

RESPONSIBILITY STATEMENT

Your Directors confirm :

a) That in the preparation of the Annual Accounts, the applicable accounting standards have been followed and that no material departures have been made from the same.

b) That they 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 affairs of the company at the end of the financial year and of the Profit or Loss of the Company for the period;

c) That they 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;

d) That they have prepared the Annual Accounts on a going concern basis.

FOR AND ON BEHALF OF THE BOARD

Place : Mumbai (Nina Ranka)

Date : 30th May, 2010 DIRECTOR




Mar 31, 2009

The Directors of your company have pleasure in presenting to you the 31st Annual Report together with the Audited Statements of Accounts for the year ended on 31st March, 2009.

FINANCIAL RESULT

Current Year Previous Year

Particulars 2008-2009 2007-2008

(Amount in Rs.) (Amount in Rs.)

Profit before Depreciation and Taxes 257,584 467,160

Less : Depreciation 212,580 226,659

Profit for the year 45,004 240,501

Less : Tax Provision 4,635 24,800

Less : FBT Provision 3,013 5,155

Less : Income Tax Adjustment of earlier yeas 5,886

Profit after Tax 31,470 210,546

Add : Balance brought forward 1,324,931 1,114,385

Balance carried to Balance Sheet 1,356,401 1,324,931



DIVIDEND

In view of the meagre amount of profit earned by the company, your directors have not recommended any dividend for the year.

PARTICULARS OF EMPLOYEES

There was no employee during the year, covered by section 217 (2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975.

DIRECTORS

Shri Jitendra Nigam retires at the ensuing Annual General Meeting and being eligible offers himself for re-appointment

AUDITORS AND AUDIT REPORT

M/s Chaturvedi Sohan & Co., Chartered Accountants, Mumbai wilI cease to be Auditors of the Company at the conclusion of the ensuing Annual General Meeting and being eligible offer themselves for re-appointment

COMPLIANCE CERTIFICATE

Your Company has complied with all the provisions of Companies Act, 1956, a certificate to this effect has been obtained from Practicing Company Secretary, Mumbai, a copy of which is enclosed.

PARICULARS OF ENERGY CONSERVATION. TECHNOLOGY ABSORBTION AND FOREIGN EXCHANGE OUTGO

The Company is not covered under any of the industry specified in Schedule under rule 2(A) of the Companies (Disclosure of particulars in the Report of Board of Directors) Rules, 1988 as such the Company is not required to submit particulars of Energy Conservation as required under Rule 2(A) and there is no activity which should be disclosed as per rule 2(B) and 2(C) about Technology Absorption and Foreign outgo.

RESPONSIBILITY STATEMENT

Your Directors confirm:

a) That in the preparation of the Annual Accounts, the applicable accounting standards have been followed and that no material departures have been made from the same.

b) That they 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 affairs of the company at the end of the financial year and of the Profit or Loss of the Company for the period;

c) That they 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;

d) That they have prepared the Annual Accounts on a going concern basis.



FOR AND ON BEHALF OF THE BOARD

Place: Mumbai (Nina Ranka)

Date : 30th May, 2009 DIRECTOR

 
Subscribe now to get personal finance updates in your inbox!