Home  »  Company  »  Regal Enter.&Con.  »  Quotes  »  Directors Report
Enter the first few characters of Company and click 'Go'

Directors Report of Regal Entertainment & Consultants Ltd.

Mar 31, 2014

Dear Members,

The Directors presents their Twentysecond Annual Report and Audited Accounts for the year ended 31st March 2014.

FINANCIAL RESULTS :

For the year ended For the year ended March 31, 2014 March 31, 2013 (Rs. in Lakh) (Rs. in Lakh)

Income from operation 8.42 7.92

Profit before tax (8.29) (7.77)

Less: Deffered tax liablity 0.09 (0.06)

Profit after tax (8.20) (7.71)

Add: Profit brought forward (51.39) (43.68) from last year

Profit available for (59.59) (51.39) Appropriation

APPROPRIATIONS:

Balance Carried Forward (59.59) (51.39)



DIVIDEND :

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

OPERATIONS AND OUTLOOK :

The total income from operation increased to Rs.8.42 Lakh from Rs. 7.92 Lakh and the company incurred a loss of Rs. 8.20 Lakh, as against loss of Rs.7.71 Lakh in the last year.

DIRECTORS'' RESPONSIBILITY STATEMENT

In accordance with provisions of Section 217(2AA) of the Com- panies Act, 1956, with respect to the Directors'' Responsibility Statement, it is hereby confirmed:

i. That in the presentation of the annual accounts for the financial year ended 31st March, 2014, the applicable accounting standards had been followed along with proper explanation relating to material departure;

ii. That the directors had selected such accounting policies and applied them consistently 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 the 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 had prepared the accounts for the financial year ended 31st March 2014 on a going concern Basis.

REPORT ON CORPORATE GOVERNANCE :

Pursuant to clause 49 of the Listing Agreement with Stock Exchanges, a separate Section titled Corporate Governance has been included in this report. The auditors certificate on compli- ance of clause 49 of the listing Agreement by the Company is annexed to this report.

MANAGEMENT DISCUSSION AND ANALYSIS:

A brief note on management discussion and analysis is annexed which forms part of the Directors Report and has been prepared in accordance with clause 49 of the listing agreement.

FIXED DEPOSITS :

The Company has neither invited nor accepted any fixed deposits from the public.

LISTING :

The equity shares of the company are listed at the Stock Ex- change, Mumbai and Madras and listing fee for the financial year 2014-15 have been paid to the concerned Stock Exchanges.

DIRECTORS :

In accordance with the provisions of Section 152 of the Compa- nies Act, 2013 and the company''s Articles of Association, Shri Dinesh Gupta, Director retire by rotation at the forthcoming An- nual General Meeting and being eligible offer himself for reap- pointment. Your Board recommends appointment of Mr. Dinesh Gupta as director liable to retire by rotation.

The Board of Directors of the Company have decided to adopt the provisions with respect to appointment and tenure of Independent Directors which are consistent with the Companies Act, 2013 and the Listing Agreement. Shri Dhiraj Mehta, Shri Brijesh Mathur and Shri Kanaiyalal B. Agrawal are Non- Executive Independent Directors of the Company. The period of office of these Directors was liable to determination by retirement by rotation under the erstwhile applicable provisions of the Companies Act, 1956. In terms of Section 149 and other applicable provisions of the Companies Act.2013, Shri Dhiraj Mehta, Shri Brijesh Mathur and Shri Kanaiyalal B. Agrawal being eligible, offer themselves for appointment, and are proposed to be appointed as Independent Directors for a term as stated in the Resolutions. Your Board recommends the said appointments.

Shri Surendra Salgia resigned as a Director of the company with effect from June 01,2014. The Board places on record its appreciation for the valuable services rendered by Shri Surendra Salgia during his tenure as Director.

AUDITORS:

M/s K.K. Gada & Co. Chartered Accountants, who are Statutory Auditors of the company hold office upto the forthcoming Annual General Meeting and are recommended for reappointment to audit the account of the company for the financial year 2014-15. As required under the provision of Section 139 of the Companies Act 2013 the company has obtained written confir- mation from M/s K.K. Gada & Co. that their appointment, if made, would be in conformity with the limits specified in the said sec- tion and they satisfy the criteria specified in Section 141 of the Companies Act, 2013 read with Rule 4 of the Companies (Audit & Auditors) Rules 2014.

EMPLOYEES:

None of the employee of the company is falling under the Category specified in section 217 (2A) of the Companies Act 1956.

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

The provision of Section 217(1)(e) of the Companies Act, 1956 read with the Companies (Disclosure in the Report of Board of Directors) Rules 1988 are not applicable to your Company, since your company is not a scheduled industries as per said rules.

Your Company neither earned nor spent any foreign exchange during the year.

ACKNOWLEDGEMENT

The Board wishes to express its deep appreciation to the entire staff members, Bankers, shareholders and clients for their valuable support to the Company.

For and on behalf of the Board

DINESH GUPTA SATISH KUSUMBIWAL Managing Director Jt. Managing Director

Place: Mumbai Date: August 28, 2014


Mar 31, 2013

The Directors presents theirTwentyfirst Annual Report and Audited Accounts for the year ended 31st March 2013.

FINANCIAL RESULTS :

For the year ended For the year ended March 31, 2013 March 31, 2012 (Rs. in Lakh) (Rs. in Lakh)

Income from operation 7.92 27.97

Profit before tax (7.77) (0.64)

Less: Earlier Year Item --- 0.08

Deffered tax liablity (0.06) (0.01)

Profit after tax (7.71) (0.71)

Add: Profit brought forward (43.68) (42.97) from last year

Profit available for (51.39) (43.68)

Appropriation

APPROPRIATIONS:

Balance Carried Forward (51.39) (43.68)

DIVIDEND :

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

OPERATIONS AND OUTLOOK :

The total income from operation decreased to Rs.7.92 Lakh from Rs.27.97 Lakh and the company incurred a loss of Rs. 7.71 Lakh, as against loss of Rs.0.71 Lakh in the last year.

DIRECTORS'' RESPONSIBILITY STATEMENT

In accordance with provisions of Section 217(2AA) of the Companies Act, 1956, with respect to the Directors'' Responsibility Statement, it is hereby confirmed:

i. That in the presentation of the annual accounts for the financial year ended 31st March, 2013, the applicable accounting standards had been followed along with proper explanation relating to material departure;

ii. That the directors had selected such accounting policies and applied them consistently 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 the 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 had prepared the accounts for the financial year ended 31st March 2013 on a going concern basis.

REPORT ON CORPORATE GOVERNANCE :

Pursuant to clause 49 of the Listing Agreement with Stock Exchange, a separate Section titled Corporate Governance has been included in this report. The auditors certificate on com- pliance of clause 49 of the listing Agreement by the Company is annexed to this report.

MANAGEMENT DISCUSSION AND ANALYSIS:

A brief note on management discussion and analysis is annexed which forms part of the Directors Report and has been prepared in accordance with clause 49 of the listing agreement.

FIXED DEPOSITS :

The Company has neither invited nor accepted any fixed deposits from the public.

LISTING :

The equity shares of the company are listed at the Stock Ex- change, Mumbai and Madras and listing fee for the financial year 2013-14 have been paid to the concerned Stock Ex- changes.

DIRECTORS :

Shri Dhiraj Mehta and Shri Surendra Salgia retire by rotation and eligible for reappointment, which the directors recommend.

AUDITORS AND AUDITORS REPORT :

Shareholders are requested to appoint the Auditors of the Company. M/s K. K. Gada & Co, Chartered Accountants, retiring Auditors have informed the Company that being eligible they offer themselves for reappointment, and have certified that their appointment, if made, will be in accordance with the limits specified in Section 224 (1-B) of the Companies Act, 1956.

The observations of the Auditors in their Report read together with notes to accounts are self explanatory and do not call for any further information & explanation under section 217 (3) of the Companies Act, 1956.

EMPLOYEES :

None of the employee of the company is falling under the Category specified in section 217 (2A) of the Companies Act 1956.

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

The provision of Section 217(1)(e) of the Companies Act, 1956 read with the Companies (Disclosure in the Report of Board of Directors) Rules 1988 are not applicable to your Company, since your company is not a scheduled industries as per said rules.

Your Company neither earned nor spent any foreign exchange during the year.

ACKNOWLEDGEMENT

The Board wishes to express its deep appreciation to the entire staff members, bankers, shareholders and clients for their valu- able support to the Company.



By order of the Board

DINESH GUPTA SATISH KUSUMBIWAL

Managing Director Jt. Managing Director



Place : Mumbai

Date : August 14, 2013.


Mar 31, 2012

The Directors presents theirTwentieth Annual Report and Audited Accounts for the year ended 31st March 2012.

FINANCIAL RESULTS :

For the year ended For the year ended

March 31, 2012 March 31, 2011 (Rs. in Lakh) (Rs. in Lakh)

Income from operation 27.97 30.57

Profit before tax (0.64) (0.88)

Less: Earlier Year Item 0.08 0.04

Deffered tax liablity (0.01) (0.06)

Profit aftertax (0.71) (0.86)

Add: Profit brought forward (42.97) (42.11)

from last year

Profit available for (43.68) (42.97)

Appropriation

APPROPRIATIONS:

Balance Carried Forward (43.68) (42.97)



DIVIDEND :

In view of the losses, your Directors do not recommend any dividend. OPERATIONS AND OUTLOOK :

The total income from operation decreased to Rs.27.97 Lakh from Rs. 30.57 Lakh and the company incurred a loss of Rs. 0.64 Lakh , as against loss of Rs.0.88 Lakh in the last year.

DIRECTORS' RESPONSIBILITY STATEMENT

In accordance with provisions of Section 217(2AA) of the Companies Act, 1956, with respect to the Directors' Responsibility Statement, it is hereby confirmed :

i. That in the presentation of the annual accounts for the financial year ended 31st March, 2012, the applicable accounting standards had been followed along with proper explanation relating to material departure;

ii. That the directors had selected such accounting policies and applied them consistently 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 the 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 had prepared the accounts for the financial year ended 31st March 2012 on a going concern basis.

REPORT ON CORPORATE GOVERNANCE :

Pursuant to clause 49 of the Listing Agreement with Stock Exchange, a separate Section titled Corporate Governance has been included in this report. The auditors certificate on compliance of clause 49 of the listing Agreement by the Company is annexed to this report.

MANAGEMENT DISCUSSION AND ANALYSIS:

A brief note on management discussion and analysis is annexed which forms part of the Directors Report and has been prepared in accordance with clause 49 of the listing agreement.

FIXED DEPOSITS :

The Company has neither invited nor accepted any fixed deposits from the public.

LISTING :

The equity shares of the company are listed in the Stock Exchange, Mumbai and Madras and listing fee for the financial year 2012-13 have been paid to the concerned Stock Exchanges.

DIRECTORS :

Shri Dinesh Gupta and Shri Satish Kusumbiwal retire by rotation and eligible for reappointment, which the directors recommend.

AUDITORS :

Shareholders are requested to appoint the Auditors of the Company. M/s. K. K. Gada & Co, Chartered Accountants, retiring Auditors have informed the Company that being eligible they offer themselves for reappointment, and have certified that their appointment, if made, will be in accordance with the limits specified in Section 224 (1-B) of the Companies Act, 1956.

The observations of the Auditors in their Report are self explanatory.

EMPLOYEES :

None of the employee of the company is falling under the Cat- egory specified in section 217 (2A) of the companies Act 1956.

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

The provision of Section 217(1)(e) of the Companies Act, 1956 read with the Companies (Disclosure in the Report of Board of Directors) Rules 1988 are not applicable to your Company, since your company is not a scheduled industries as per said rules.

Your Company neither earned nor spent any foreign exchange during the year.

ACKNOWLEDGEMENT

The Board wishes to express its deep appreciation to the entire staff members, bankers, shareholders and clients for their valuable support to the Company.

By order of the Board

DINESH GUPTA SATISH KUSUMBIWAL Managing Director Jt. Managing Director

Place : Mumbai Date : August 29, 2012.


Mar 31, 2010

The Directors presents their Eighteenth Annual Report and Audited Accounts for the year ended 31st March 2010.

FINANCIAL RESULTS :

For the year ended For the year ended March 31, 2010 March 31, 2009 (Rs. in Lakh) (Rs. in Lakh)

Income 83.99 99.38

Profit before tax (7.51) (31.62)

Less: Provision for tax - -

Provision for Fringe benifit tax - 0.06

Earlier Year Item 1.29 -

Deffered tax liablity (0.22) 0.10

Profit after tax (8.58) (31.78)

Add: Profit brought forward (33.53) (1.74)

from last year

Profit available for (42.11) (33.52)

Appropriation

APPROPRIATIONS:

Balance Carried Forward (42.11) (33.52)

DIVIDEND :

In view of the losses, your Directors do not recommend any Dividend.

OPERATIONS AND OUTLOOK :

The total income decreased to Rs.83.99 Lakhs from Rs. 99.38 Lakhs and the company incurred a loss of Rs. 7.51 Lakhs, as against Loss of Rs.31.62 Lakhs in the last year.

DIRECTORS RESPONSIBILITY STATEMENT

In accordance with provisions of Section 217(2AA) of the Companies Act, 1956, with respect to the Directors Responsibility Statement, it is hereby confirmed :

i. That in the presentation of the annual accounts for the financial year ended 31st March, 2010, the applicable accounting standards had been followed along with proper explanation relating to material departure;

ii. That the directors had selected such accounting policies and applied them consistently 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 the 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 had prepared the accounts for the financial year ended 31st March 2010 on a going concern basis.

REPORT ON CORPORATE GOVERNANCE :

Pursuant to clause 49 of the Listing Agreement with Stock Exchange, a separate Section titled Corporate Governance has been included in this report. The auditors certificate on compliance of clause 49 of the listing Agreement by the Company is annexed to this report.

MANAGEMENT DISCUSSION AND ANALYSIS:

A brief note on management discussion and analysis is annexed which forms part of the Directors Report and has been prepared in accordance with clause 49 of the listing agreement.

FIXED DEPOSITS :

The Company has neither invited nor accepted any fixed deposits from the public.

LISTING :

The equity shares of the company are listed in the Stock Exchange, Mumbai and Madras and listing fee for the financial year 2010-11 have been paid to the concerned Stock Exchanges. The approval of Delhi Stock Exchange for voluntary delisting is still awaited meanwhile company has not made payment of listing fee to Delhi Stock Exchange.

DIRECTORS :

Shri Dhiraj Mehta and Shri Surendra Salgia retire by rotation and eligible for reappointment, which the directors recommend.

AUDITORS :

Shareholders are requested to appoint the Auditors of the Company. M/s K. K. Gada & Co, Chartered Accountants, retiring Auditors have informed the Company that being eligible they offer themselves for reappointment, and have certified that their appointment, if made, will be in accordance with the limits specified in Section 224 (1-B) of the Companies Act, 1956.

The observations of the Auditors in their Report are self explanatory.

EMPLOYEES :

None of the employee of the company is falling under the Cat- egory specified in section 217 (2A) of the companies Act 1956.

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

The provision of Section 217(1)(e) of the Companies Act, 1956 read with the Companies (Disclosure in the Report of Board of Directors) Rules 1988 are not applicable to your Company, since your company is not a scheduled industries as per said rules.

Your Company neither earned nor spent any foreign exchange during the year.

ACKNOWLEDGEMENT

The Board wishes to express its deep appreciation to the entire staff members, bankers, shareholders and clients for their valuable support to the Company.

By order of the Board



DINESH GUPTA SATISH KUSUMBIWAL Managing Director Jt. Managing Director

Place : Mumbai

Date : 30h August, 2010.

 
Subscribe now to get personal finance updates in your inbox!