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Directors Report of Ruby Traders & Exporters Ltd.

Mar 31, 2014

Dear Members,

The Directors are pleased to present the Thirty Third Annual Report together with the Audited Statement of Accounts for the year ended March 31, 2014. The Management Discussion and Analysis is also incorporated into this Report.

1. CORPORATE OVERVIEW

Ruby Traders & Exporters Limited ("Your Company") is in the business of trading activities in textile products vide Grey and Finished Fabric, Cotton Sarees, advancing money in form of Inter Corporate Deposits to Corporate Entities and HNIs and making investments in Capital and Securities Market.

2. OVERVIEW OF THE ECONOMY

According to the latest estimate, Indian Economy grew by 4.7% in FY 2014. Despite a good monsoon, the manufacturing indices has declined, commodity prices stayed at high levels and food inflation reached an all-time high which resulted in sustained CPI inflation of over 10% in the last financial year. The Rupee depreciated significantly before retracting in the latter half of the year. Consumer sentiments remained subdued for most part of FY 2014.

However, the slow GDP growth appears to have bottomed out and post elections, economic activity is expected to pick up from the second quarter of FY 2015.

3. FINANCIAL PERFORMANCE

Rs. In Lacs

Financial Results Year Ended Year Ended March 31, 2014 March 31, 2013

Revenue from Operations 109.57 14.50

Profit Before Tax & Extraordinary Items 9.01 2.06

Provision for Taxation 2.78 0.64

Profit after Tax 6.23 1.42

Profit brought forward from Previous Year 6.27 4.85

Balance carried forward to next year 12.50 6.27

4. FINANCE & ACCOUNTS

In the FY 2013-2014, your company has issued 41,50,000 Equity shares of Rs. 10 each at par on preferential basis. All the shares rank pari-passu with the existing shares. Further all the equity shares are listed on both The Calcutta Stock Exchange and The Uttar Pradesh Stock Exchange.

Your company prepares its financial statements in compliance with the requirements of the Companies Act, 1956 and the Generally Accepted Accounting Principles (GAAP) in India. The financial statements have been prepared on historical cost basis. The estimates and judgements relating to the financial statements are made on a prudent and reasonable basis, so as to reflect in a true and fair manner, the form and substance of transactions and reasonably present the Company''s state of affairs, profits and cash flows for the year ended March 31, 2014.

5. PUBLIC DEPOSITS

During the year under review, your company has not accepted any deposits from the public within the meaning of section 58A of the Companies Act 1956 and the rules there under.

6. COMPLIANCE

The compliance function of the company is responsible for independently ensuring that the operating and business units comply with regulatory and internal guidelines. New instructions/guidelines issued by the regulatory authorities were disseminated across the company to ensure that the business and business units operate within the boundaries set by the regulators and that compliance risks are suitably monitored and mitigated in course of their activities & processes.

7. DIRECTORS

During the year under review, Mr. Ashish Jalan is appointed as the Additional Director in the company. He offers himself as eligible to be appointed as the Independent Director of the company.

Also, during the year under review, Mr. Rajnish Parolia, Mr. Nishant Kothari, Mr. Ratan Pandit, Mr. Sovon Chakrovorty and Mr. Murari Lal Kanodia resigned from the Board.

Further, none of the Directors of the company are disqualified under section 274(1)(g) of the Companies Act, 1956.

8. AUDITORS

Auditors M/s Bajoria Mayank & Associates, Chartered Accountants, Kolkata holds the office until the conclusion of the ensuing Annual General Meeting. Your company has received certificate from the Auditors u/s 224(1B) of the Companies Act, 1956 to the effect that their reappointment if made, will be within the limit prescribed.

The shareholders are requested to appoint the Auditors and fix their remuneration.

9. COMMENTS ON AUDITOR''S REPORT

The notes referred to in the Auditor''s Report are self - explanatory and as such they do not call for any further explanation as required under section 217(3) of the Companies Act, 1956.

10. PARTICULARS OF THE EMPLOYEES

The information as required by provisions of section 217(2A) of the Companies Act, 1956 read with companies (Particular of employees) amendment rules, 1988 is reported to be NIL.

11. PARTICULARS UNDER SECTION 217(I)(E) OF THE COMPANIES ACT, 1956

The company is engaged in the business of trading in textile products. Also, it is engaged in the business of Capital market & Finance Sector. Hence, the information regarding conservation of energy, Technology Absorption, Adoption and Innovation, the information required under section 217(1)(e) of the Companies Act, 1956 read with the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules 1988, is reported to be NIL

The Company has not earned or used foreign exchange earnings/outgoings during the year under review.

12. DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to Section 217(2AA) of the Companies Amendment Act, 2000 the Directors confirm that :

a. In the preparation of the Annual Accounts, for the year ended 31st March 2014, all the applicable accounting standards prescribed by the Institute of Chartered Accountants of India have been followed.

b. The Directors had adopted such accounting policies and applied them consistently and made judgements 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 of the company for that period.

c. The Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

d. The Directors had prepared the annual accounts on a going concern basis.

13. APPRECIATION

Your Directors wish to place on record their appreciation for the contribution made by the employees at all levels but for whose hard work, and support, your company''s achievements would not have been possible. Your Directors also wish to thank its customers, dealers, agents, suppliers, investors and bankers for their continued support and faith reposed in the company.

By Order of the Board of Directors For RUBY TRADERS and EXPORTERS LIMITED

Ramrati Choudhury Managing Director

May 19, 2014 Kolkata


Mar 31, 2013

Dear Members,

Your Directors have pleasure in presenting the Thirty Second Annual Report of your Company together with the Audited Statements of Accounts for the. year ended March 31, 2013.

Financial Results Year Ended Year Ended 31.03.2013 31.03,2012

Income 14,50,000.00 4,53,954,00

Profit before Tax & extraordinary 2,05,947 3,18,255,29 item

Less: Provision for Taxation 39,245.58 54,786,23

MAT Credit Entitlement 24,394.42 54,786,23

Deferred Tax (51.47) NIL

Profit after Tax 1,42,358.47 3,18,255.29

Less: Adjustment of Tax for Earlier NIL NIL Years

Less : Transfer to General Reserve NIL NIL

Add : Profit brought forward from 4,84,843.80 1,66,588.51 Previous Year

Balance carried forward 6,27,202.27 4,84,843,80

BUSINESS OPERATIONS

The Business environment remains extremely challenging and the recessionary economic conditions leading to slowdown in demand and inflation pushed scale up of input costs left its adverse imprint on overall performance for 2012-2013. Directors are pleased to inform that in spite of difficult times, your Company, based on its intrinsic strength, has broadly maintained its performance.

FUTURE PLANS

As you are aware to this fact that the market is not supporting to the businesses of the Company due to lack of demand, high inflation rate, significant drop in the growth of the Company, rise in Dollar price etc. in spite of all these, the Company is hopeful of maintaining its profitability in current financial year also and wants to expand its business in a big way. Apart from this the Company is willing to invest its money in Capital Market wisely and to earn from this investment.

DIVIDEND

In order to conserve resources to meet the working capital requirements, your Directors do not propose any dividend for the year under review.

MANAGEMENT

There is no Change Management of the Company during the year under review.

DIRECTORS

None of the Directors of the Company are disqualified under section 274(1) (g) of the Companies Act 1956.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to Section 217 (2AA) of the Companies (Amendment) Act, 2000 the Directors confirm that:

1. In the preparation of the annuals accounts, for the year ended 31st March 2013, all the applicable accounting standards prescribed by the Institute of Chartered Accountants of India have been followed;

2. The Directors had adopted such accounting policies and applied them consistency and made judgments and estimates that arc 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 of the Company for that period.

3. The Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

4. The Directors had prepared the annual accounts on a going concern basis,

STATUTORY INFORMATION

The Company being basically in the trading business as well as an Investor Capital & Money Market, requirement, regarding and disclosures of Particulars of conservation of energy and technology absorption prescribed by the rule is not applicable to us.

INFORMATION TECHNOLOGY

Your Company believes that in addition to progressive thought, it is imperative to invest in research and development to ascertain future exposure and prepare for challenges. In its endeavor to obtain and deliver the best, your Company has entered into alliances/tie-ups with an IT solution Company harness and cap the latest and the best of technology* in the world and deploy/absorb technology wherever feasible, relevant and appropriate.

RESEARCH & DEVELOPMENT

The Company believes that technological obsolescence is a reality. Only progressive research and development will help us to measure up to future challenges and opportunities. We invest in and encourage continuous innovation. During the year under review, expenditure on research and development is not significant in relation to the nature size of operations of your Company.

AUDITORS

The Auditors M/s Bajoria Mayank & Associates., Chartered Accountants, Kolkata holds the office until the conclusion of ensuing Annual General Meeting, Your Company has received certificate from the Auditors U/S 224(1B) of the Companies Act, 1956 to the effect that their reappointment if made, will be within the limit prescribed. The shareholders are requested to appoint Auditors and fix their remuneration.

COMMENTS ON AUDITOR'S REPORT :

The notes referred to in the Auditor's Report arc. self explanatory- and as such they do not call for any further explanation as required under section 217(3) of the Companies Act, 1956.

PARTICULARS OF EMPLOYEES

The information as required by provisions of section 217(2A) of the Companies Act, 1956 read with the companies (Particular of employees) amendments rules, 1975 is reported to be NIL.

PARTICULARS UNDER SECTION 217 (1) (E) OF THE COMPANIES ACT, 1956

The Company is having no business other than the business of Investing Securities Market as well as to lend money to Corporate and during the year under review and hence the information regarding conservation of energy, Technology Absorption, Adoption and innovation, the information required under section 217(l)(c) of the Companies Act, 1956 read with the Companies (Disclosure of particulars in the Report of Board of Directors) Rules 1988, is reported to be NIL,

FOREIGN EXCHANGE EARNINGS AND OUTGO

The Company has not earned or used foreign exchange earnings/outgoings during the year under review.

PUBLIC DEPOSITS

During the year under review, your Company has not accepted any deposits from the public within the meaning of section 58A of the Companies Act 1956 and the rules there under.

REPORT ON CORPORATE GOVERNANCE

The Company conforms to the norms of Corporate Governance as envisaged in the Companies Act, 1956 and the lasting Agreement with the Bombay Stock Exchange Limited. Pursuant to Clause 49 of the Agreement, a Report on the Corporate Governance and the Auditors Certificate on Corporate Governance arc annexed to this report.

APPRECIATION

Your Directors wish to place on record their appreciation towards the contribution of all the employees the Company and their gratitude to the Company's valued customers, bankers, vendors and members for their continued support and confidence in the Company.

Kolkata, August 17, 2013 By order of the Board For RUBY TRADERS & EXPORTERS LTD.

Sovon Chakrovorty Director Registered Office :

42/1, B.B. Ganguly Street Kolkata - 700 012


Mar 31, 2012

To The Members,

The Directors have pleasure in presenting the Thirty First Annual Report of your Company together with the Audited Statements of Accounts for the year ended March 31, 2012.

Financial Results Year Ended Year Ended 31-03-2012 31-03-2011

Income " 4,53,954.00 99,478.00

Profit before Tax & extraordinary item 3,18,255.29 2,411.98

Leas; Provision for Taxation 54,786.23 NIL

MAT Credit Entitlement 54,786.23 NIL

Deferred Tax NIL 51.47

Profit after Tax 3,18,255,29 2360.51

Less ; Adjustment of tax for Earlier Years NIL NIL

Less: Transfer to General Reserve NIL NIL

Add: Profit brought forward from Previous 1,66,588.51 1,64,228.00 Year

Balance carried forward 4,84,843.80 1,66.588.51

BUSINESS OPERATIONS

The Business environment remains extremely challenging and the recessionary economic Condition leading co slowdown in demand and inflation pushed scale input costs left its adverse imprint on overall performance for 2011-2012, Directors are pleased to inform that in spite of difficult times, your Company, based on its intrinsic strength, has broadly maintained its performance.

FUTURE PLANS

As you are aware to this fact that the market is noi supporting to die businesses of the Company due to lack of demand, high inflation rate, significant drop in the growth of the Company, rise in Dollar price etc. In spite of all these, the Company is hopeful of maintaining its profitability in current financial year also and wants co expand its buiness in a big way. Apart from this the Company is willing to invest its money in Capital Market wisely and to earn from this investment.

DIVIDEND

In order to conserve resources to meet the working capital requirements, your Directors do not propose any dividend for the year under review,

MANAGEMENT DISCUSSION & ANALYSIS

As required by Clause 49 of Listing Agreement, the. Management Discussion and Analysis is annexed anti forms pari of the Directors Report.

DIRECTORS!

Retire by Rotation:

Mr. Rajnish Parolia, a director of the Company retires by rotation as per the provisions of Companies Act, 1956, And being eligible, offers himself for re-appointment.

Resignation of director:

Mr. Om Prabish Gupta and Mr. Ashok Kumar Gupta, Directors of the Company has been resigned from Directorship w.e.f. 20th April, 2012.

Resignation from the Office:

Mr. Bishwanath Parolia resigned from the service of Authorized Officer w.e.f 29th .August 2012.

Regular is action of Directors;

Mr. Ratan Pandit and Mr. Sovon Chakraborty, were appointed as an Additional director of the Company w.e.f 26th March 2012, will be regulated at the ensuing Annual General Meeting of the.Company and be appointed as the normal Director being Independent director of the Company and m dns regard the Company has received a request from a member of Company proposing their candidatures for the appointment of normal direcor.

Disclosure by Directors:

further, none of the Directors of the Company ate disqualified under section 2-4{1)(g) of die Companies Act 1956,

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to Section 217 (2 A A) of the Companies (Amendment) Act, 2000 the Directors confirm that:

1. In the preparation of die annuals accounts, for the year ended 31st March 2012, all the applicable accounting standards Prescribed by the Institute of Chartered Accountants of India have been followed;

2. The Directors had adopted such accounting policies and applied them consistentiy 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 die end of the financial year and of the profit of the Company for [hat period.

3. The Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

4. The Directors had prepared [he annual accounts on a going concern basis.

STATUTORY INFORMATION

The Company being basically in die trading business as well as an Investor in Capital & Money Market, requirement, regarding and disclosures of Particulars of conservation of energy- and technology absorption prescribed by the rule is not applicable to us.

INFORMATION TECHNOLOGY

Your Company believes that in addition to progressive thought, it is imperative to invest in research and development to ascertain future exposure and prepare for Challenges. In its endeavor to obtain and deliver the best, your Company has entered into alliances/ tie- ups with an IT solution Company to harness and tap the latest and the best of technology in she world and deploy /absorb technology wherever feasible, relevant and appropriate.

RESEARCH & DEVELOPMENT

The Company believes dial technological obsolescence is a reality.Only progressive research and development will help us to measure up to future challenges and opportunities. We invest in and encourage eonnnuous innovation. Durmg the year under review, expenditure oil research and development is not significant in relauon to the nature size of operations of your Company.

AUDITORS

the Auditors Mayank Bajoria, Chartered Accountant, Howrah holds die office until the conclusion of ensuing Annual General Meeting. Your Company lias received certificate from the Auditors U/S 224(1 R) of die Companies Act, 1956 to the effect that their reoppointment if made, will be within the limit prescribed.

COMMENTS ON AUDITOR''S REPORT;

The notes referred to in the Auditur''s Report are self explanatory and as such they do not call for any further explanation as required under section 217(3) of the Companies Act, 1956.

COMPLIANCE CERTIFICATE:

The Directors have gone through tine observation of V. K. Sharma & Associates, a whole time secretary in practice of 82/6/1, Bhairab Du- tta Lane, 1st Floor, Salkia, Howrah - 711106, Through their Compliance certificate, year ended 31-03-2U12 under section 383A (1) of Companies Act, 1956, has been annexed with the Board Report,

APPOINTMENT OP SECRETARIAL AUDITOR:

Ms. Swati Kedia, a whole Lime Secretary in practice of 8/9, Mahendra Nath Roy Bye 1 Lane Howrah -- 711 101, is being appointed for issuance the Compliance Certificate for the F. Y. ended 31.03,2013,

PARTICULARS OF EMPLOYEES

There was only no employee in die Com]:any during die year under review.

The information as required by provisions of section 217(2A) of the Companies Act, 1956 read with die companies (Particular of employees) amendments rules, 1975 is reporter! to be NIL. ''

PARTICULARS UNDER SECTION 217 (1) (E) OF THE COMPANIES ACT, 1956

The Company is having no business other than the business of Investing in Securities Market as well as to lend money to Corporate and HNls during the year under review and hence the information regarding conservation of energy, technology Absorption, Adoption and innovation, the information required under section 217(l)(e) of the Companies Act, 1956 read with the Companies (Disclosure of particulars in the Report of Board of Directors) Rules 1988, is reporter) to be NIL.

FOREIGN EXCHANGE EARNINGS AND OUTGO

The Company has not earned or used foreign exchange earnings/outgoings during the year under review.

PUBLIC DEPOSITS

During the year under review, your Company has not accepted any deposits from the public within the meaning of section 58A of the Companies Act I956 and the rule there under.

REPORT ON CORPORATE GOVERNANCE

The Company conforms to the norms of Corporate Governance as envisaged in the Companies Act, 1956 and the Listing Agreement with the Bombay Stock Exchange Limited. Pursuant to Clause 49 of the Listing Agreement, a Report on the Corporate Governance and the Auditors Certificate on Corporate Governance are annexed to report.

APPRECIATION

Your Directors wish to place on record their appreciation towatds the contribution of all the employees of the Company and their grantude to the Company''s valued customers, bankers, vendors and members for their continued support and confidence in the Company. ''

Kolkata September 3.2012 By order of the Board For Ruby Traders & Exporters LTD

Registered Office;

42/5, B.B: Ganguly Street Ratan Pandit Sovon Chaktovoity Kolkat. 700012 Director Director


Mar 31, 2011

Dear Members,

The board of director of your company has great pleasure in presenting their report of the company together with the audited statements of account for the year ended 31st March 2011.

Financials Results

During the year the company incurred a Profit (PAT) of Rs 2360.51/-. The amount of profit carried forward to the Balance Sheet is Rs 166588.51/-

Operations

The company had normal trading business activities during the year.

Personnel

Particulars as required under section 217(2A) of the Companies Act, 1956 are not applicable to the company.

Director's Responsibility Statement

As required under section 217 (2AA) which was introduced by the Companies Amendment Act, 2000. your directors confirm that:

1. In the preparation of the annual accounts, the applicable accounting standards have been followed.

2. The Directors had 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 Company as on 31/03/2011 and of the Profit of the Company for the year ended 31/03/2011.

3. 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,

4. The Directors have prepared the annual accounts on going concern basis.

Auditors Report

There is nothing in Auditor's Report, which requires further explanation.

Auditors

The auditor M, K. Ghosh & Co., Chartered Accountants have been eligible and offered themselves for appointment. It has been informed that their appointment would be within the limit prescribed U/s 224(1B) of the Companies Act 1956.

Particulars of Employees:

None of the employees was in receipt of the remuneration exceeding the limits prescribed u/s 217(2 A) of the Companies Act 1956 and (he rules framed their under, as amended to date.

Information Pursuant to sec 217 (1) (e) of the Companies Act, 1956.

A. Conservation of Energy : Not Applicable

3. Technology absorption : Not Applicable

C, Earning ft Expenditure in Foreign Exchange : NIL

For and on behalf of the Board of Directors Place: Kolkata Ruby Traders & Exporters Ltd Dated: 20 August, 2011

Rajnish Parolia Om PrakaSh Gupta Director Director





 
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