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Directors Report of Sanmitra Commercial Ltd.

Mar 31, 2014

The Members of

Sanmitra Commercial Limited

The Directors have pleasure in presenting Thirtieth Annual Report together with the Audited Accounts of the Company for the year ended 31st March 2014.

PERFORMANCE

There was no revenue from operation during the year as compared to Rs. 41,85,573/- in the previous year, resulting in net loss of Rs. 41,418/- as compared to net loss of Rs. 73,852/- in the previous year. Due to accumulated losses; your Directors are unable to recommend any dividend.

DIRECTOR''S RESPONSIBILITY STATEMENT

Pursuant to Section 217(2AA) of the Companies Act, 1956 the Directors confirm that:

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

2. Appropriate accounting policies as mentioned in Note No. 1 have been applied consistently and have 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 as at 31st March, 2014 and of the loss of the Company for Year ended on that date.

3. Proper and sufficient care has been taken 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 annual accounts have been prepared on a going concern basis.

LISTING AGREEMENT

Pursuant to Clause 32 of the listing agreement with Mumbai Stock Exchange, the Company declares that its securities are listed on Mumbai Stock Exchange. Listing Fees have been duly paid to the Mumbai Stock Exchange for the year 2014-2015.

DIRECTORS

Mr. Suresh Jain retires by rotation at the ensuring Annual General Meeting and being eligible offers himself for reappointment. He will be re-appointed as Non-executive Independent Director for a period of five years.

Mr. Suresh Jain is B.Com, LL.B. and has vast experience in finance and business management. The Board recommends his appointment.

Mr. Mangesh Apte was appointed as Additional Director (Independent Non-Executive) and being eligible offers himself for reappointment. He will be re-appointed as Non- executive Independent Director for a period of five years.

Mr. Mangesh Apte is M.Com, D.F.M. has vast experience in financial management and compliances. He has been lecturer in various colleges and was Cost Officer in NTC for ten years and has an experience in compliances. The Board recommends his appointment.

FIXED DEPOSITS

The Company has not accepted any Fixed Deposit from the public during the year under review.

PROPOSAL TO DIVERSIFY THE BUSINESS ACTIVITY IN OTHER AREAS

1. The Board of Directors decided to diversify into other activities namely to start with the business of rendering services in the field of manpower placement, recruitment & training and employment of security guards, skilled & unskilled labour and workers including managerial staff to various organization & also to provide security systems, hardware and software including maintenance of systems.

2. To start hospitality, facility management & property management in India and abroad and to also conduct other business and services in the respect of the above services.

POSTAL BALLOT

NOTICE for Postal Ballot was given to the Members on January 2, 2014 and Resolutions pursuant to Section 17 and all other applicable provisions as required by Companies Act, 1956 were passed to give effect to the new business to be carried by the Company.

Results of successful completion of Postal Ballot were duly published.

EMPLOYEES

No employee is receiving remuneration beyond the limit prescribed under the provisions of Section 217(2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules, 1975 as amended up to date.

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

The company has only trading activities hence, the information as required under section 217 (1)(a) of the Companies Act, 1956 read with Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 pertaining to conservation of energy or technology absorption is not required to be submitted. The Company has no foreign exchange earning and outgo during the year under review.

AUDITORS

M/s. A. W. Ketkar & Co., Chartered Accountants, Auditors of the Company retires on conclusion of the ensuing Annual General Meeting. They are eligible for reappointment and members are requested to appoint the auditors.

SECRETARIAL AUDIT REPORT

The Company has obtained Secretarial Audit Report from M/s. GMJ & ASSOCIATES, Company Secretaries in whole-time practice under section 383A of the Companies Act, 1956 and it forms part of the balance sheet.

ACKNOWLEDGEMENTS

Your Directors place on record their deep sense of appreciation for the contribution of employees at all levels and for the support from the government authorities, banks, lenders and the associates.

By Order of the Board of Directors

Place : Mumbai SURESH JAIN PRAKASH SHAH Date : May 30, 2014 Director Director


Mar 31, 2013

To The Members of Sanmitra Commercial Limited

The Directors have pleasure in presenting Twenty Ninth Annual Report together with the Audited Accounts of the Company for the year ended 31st March 2013.

PERFORMANCE

The revenue from operation during the year was Rs. 41,85,573/- as compared to Rs. 2,41,28,326/- in the previous year, resulting in net loss of Rs. 73,852/- as compared to net loss of Rs. 45,259/- in the previous year. Due to accumulated losses; your Directors are unable to recommend any dividend.

DIRECTOR''S RESPONSIBILITY STATEMENT

Pursuant to Section 217(2AA) of the Companies Act, 1956 the Directors confirm that:

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

2. Appropriate accounting policies as mentioned in Note No. 1 have been applied consistently and have 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 as at 31st March, 2013 and of the loss of the Company for Year ended on that date.

3. Proper and sufficient care has been taken 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 annual accounts have been prepared on a going concern basis.

LISTING AGREEMENT

Pursuant to Clause 32 of the listing agreement with Mumbai Stock Exchange, the Company declares that its securities are listed on Mumbai Stock Exchange. Listing Fees have been duly paid to the Mumbai Stock Exchange for the year 2013-2014.

DIRECTORS

Mr. Arvind Shah Director, have resigned during the year. The Board places on record its appreciation of the services rendered and guidance given by him during his tenure as director on the Board.

Mr. Prakash Shah retires by rotation at the ensuring Annual General Meeting and though being eligible offers himself for reappointment.

FIXED DEPOSITS

The Company has not accepted any Fixed Deposit from the public during the year under review.

PROPOSAL TO DIVERSIFY THE BUSINESS ACTIVITY IN OTHER AREAS

1. The Board of Directors decided to diversify into other activities namely to start with the business of rendering services in the field of manpower placement, recruitment & training and employment of security guards, skilled & unskilled labour and workers including managerial staff to various organization & also to provide security systems, hardware and software including maintenance of systems.

2. To start hospitality, facility management & property management in India and abroad and to also conduct other business and services in the respect of the above services.

EMPLOYEES

No employee is receiving remuneration beyond the limit prescribed under the provisions of Section 217(2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules, 1975 as amended up to date.

AUDITORS

M/s. A. W. Ketkar & Co., Chartered Accountants, Auditors of the Company retires on conclusion of the ensuing Annual General Meeting. They are eligible for reappointment and members are requested to appoint the auditors.

ACKNOWLEDGEMENTS

Your Directors place on record their deep sense of appreciation for the contribution of employees at all levels and for the support from the government authorities, banks, lenders and the associates.

Place : Mumbai, By Order of the Board of Directors

Date : May 30, 2013

REGISTERED OFFICE

Office No. 4, G. Floor, Ruby Mahal,

30D, Cawasji Patel Street, Fort, SURESH JAIN SANTOSH SURVE

Mumbai 400 001. Director Director


Mar 31, 2010

The Directors have pleasure in presenting Twenty Sixth Annual Report together with the Audited Accounts of the Company for the year ended 31st March 2010.

PERFORMANCE

The Income of operation during the year was Rs.10,83,93,967/- as compared to Rs.5,85,24,730/- in the previous year. The Company has earned a net profit after taxes at Rs.36,156/- against Rs. 25,408/- for the previous year. Due to inadequate profit, your Directors are unable to recommend any dividend.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to Section 217(2AA) of the Companies Act, 1956 the Directors confirm that

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

2. Appropriate accounting policies as mentioned in Schedule No. 7 have been selected and applied consistently and have 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 as at 31" March, 2010 and of the profit of the Company for Year ended on that date.

3. Proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Art, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

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

LISTING AGREEMENT

Pursuant to Clause 32 of the listing agreement with Mumbai Stock Exchange, the Company declares that its securities are listed on Mumbai Stock Exchange. Listing Fees have been duly paid to the Mumbai Stock Exchange for the year 2010-2011.

DIRECTORS

Mr. Deepak Patel retires by rotation at the ensuring Annual General Meeting and though being eligible does not offers himself for reappointment

The Board places on records their deep appreciation for the valuable services and the guidance given by him to the company till his being on the board of the company.

Pursuant to provisions of section 260 of the Companies Act, 1956 and Articles of Association of the Company, Mr. Arvind Shah was appointed as an Additional Director on the Board with effect from July 16, 2010. He shall hold office upto the date of the ensuing Annual General Meeting. The Company has received a notice in writing alongwith requisite deposit under section 257 of the Companies Act, 1956 from a member proposing the candidature of Mr. Arvind Shah to the post of the Director of the Company to fill up the vacancy of the retiring director Mr. Deepak Patel, liable to retire by rotation.

FIXED DEPOSITS

The Company has not accepted any Fixed Deposit from the public during the year under review.

EMPLOYEES

No employee is receiving remuneration beyond the limit prescribed under the provisions of Section 217(2A) of the Companies Aci, 1956 read with Companies (Particulars of Employees) Rules, 1975 as amended up to date.

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

The company has only trading activities hence, the information as required under section 217 (l)(a) of the Companies Act, 1956 read with Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 pertaining to conservation of energy or technology absorption is not required to be submitted. The Company has no foreign exchange earning and outgo during the year under review.

AUDITORS

M/s. A. W. Ketkar & Co., Chartered Accountants, Auditors of the Company retires on conclusion of the ensuing Annual General Meeting. They are eligible for reappointment and members are requested to appoint the auditors.

SECRETARIAL AUDIT REPORT

The Company has obtained Secretarial Audit Repot from M/s. Sarika Jajodia & Co., Company Secretaries in whole-time practice under section 383A of the Companies Act, 1956 and it forms part of the balance sheet

ACKNOWLEDGEMENTS

Your Directors place on record their deep sense of appreciation for the contribution of employees at all levels and for the support from the government authorities, financial institutions, banks, lenders and the associates.

Place: Mumbai, By Order of the Board of Directors

Date : August 14,2010

REGISTERED OFFICE

Office No. 4, G. Floor, Ruby Mahal, 30D, Cawasji Patel Street, Fort, SURESHJAIN PRAKASHSHAH

Mumbai 400 001. Director Director


Mar 31, 2002

The Directors have pleasure in presenting Eighteenth Annual Report together with the Audited Accounts of the Company for the year ended 31st March 2002.

FINANCIAL RESULTS Rs.

Sales 9,77,425

Profit for the year 1,611

PERFORMANCE

The sale during the year was Rs. 9,77,425/- as compared to Rs. 19,55,650/- in the previous year. Due to accumulated losses, your Directors are unable to recommend any dividend.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to Section 217(2AA) of the Companies Act, 1956 the Directors confirm that:

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

2. Appropriate accounting policies as mentioned in Schedule No. 9 have been selected and applied consistently and have 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 as at 31st March, 2002 and of the Profit of the Company for Year ended on that date.

3. Proper and sufficient care has been taken 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 annual accounts have been prepared on a going concern basis.

LISTING AGREEMENT

Pursuant to Clause 32 of the listing agreement with Mumbai Stock Exchange, the Company declares that its securities are listed on Mumbai Stock Exchange. Listing Fees have been duly paid to the Mumbai Stock Exchange for the year 2001-2002.

DIRECTORS

Mr. Deepak Patel and Mr. Santosh Surve, Directors shall retire by rotation and being eligible offer themselves for reappointment.

FIXED DEPOSITS

The Company has not accepted any Fixed Deposit from the public during the year under review.

EMPLOYEES

No employee is receiving remuneration beyond the limit prescribed under the provisions of Section 217(2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules, 1975 as amended up to date.

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

The.company has only trading activities hence, the information as required under section 217 (l)(a) of the Companies Act, 1956 read with Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 pertaining to conservation of energy or technology absorption is not required to be submitted. The Company has no foreign exchange earning and outgo during the year under review.

AUDITORS & AUDITORS REPORT

M/s. A. W. Ketkar & Co., Chartered Accountants, Auditors of the Company retires on conclusion of the ensuing Annual General Meeting. They are eligible for reappointment and members are requested to appoint the auditors.

Your Directors refer to the observations made by the Auditors in their Report and wish to state that the Auditors observations as well as explanations given in the notes forming part of the Accounts Are self explanatory and hence do not require any further comments.

By Order of the Board of Directors

Deepak Patel Director

Place: Mumbai, Date : June 29, 2002 REGISTERED OFFICE 23, Jalaram Najjar, 2nd Floor, Opp. Chamunda Circle, Ganjawalla Lane, Borivali (West), Mumbai 400 091.

 
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