Mar 31, 2014
Dear members,
The Directors have pleasure in presenting the 19TH Annual Report
together with audited statement of accounts of the Company for the
year ended on 31st March 2014.
01. OPERATIONS DURING THE YEAR:
During the year under review the Company''s earning has decreased due
to competition and reverse market trends. The Company hopes to achieve
good results in the current year.
02. FINANCIAL RESULTS:
PARTICULARS 2013-14 2012-13
(RS) (RS)
Total Income 1107857 993240
Profit before Tax 51847 19594
Provision for Taxation nil 6200
Net Profit / Loss 51847 13394
03. PROJECT AND PROSPECTS:
The company has resorted to development and marketing of software and
consultation in Portfolio Management and other areas.
04. AUDITORS:
The Board of Directors of the company have appointed M/s Mukesh Choksy
& Co., Chartered Accountants, Mumbai to be the auditors of the company
for the audit of F.Y. 2014-2015 subject to the consent of the
shareholders in AGM.
05. DIRECTORS'' RESPONSIBILITY STATEMENT:
Pursuant to section 217(2AA) of the Companies Act, 1956 the Directors
confirm that:
(i) In the preparation of the Annual Accounts, the applicable
accounting standards have been followed along with proper explanation
relating to material departures.
(ii) Appropriate accounting policies have been selected and applied
consistently, and have made judgment and estimates that are
responsible and prudent so as to give true and fair view of the state
of affairs of the company for said period.
(iii) 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 of the assets of the company and
for preventing and detecting frauds and other irregularities.
(iv) The annual accounts have been prepared on a going concern basis.
06. PARTICULARS OF EMPLOYEES:
No employee of the Company qualifies for disclosure pursuant to
Section 217(2A) of the Companies Act, 1956, read with the Companies
(Particulars of Employees) Rules, 1975.
07. CONSERVATION OF ENERGY:
The information required Under Section 271(1)(e) of the Companies Act,
1956, read with Companies (Disclosure of particulars in the Report of
Board of Directors) Rules, 1988 is not applicable looking to the
nature of business of the Company.
08. CORPORATE GOVERNANCE:
The Company has implemented various processes in furtherance of
Corporate Governance. Pursuant to Clause 49 of the Stock Exchange
Listing Agreement, report on Corporate Governance is given in the
Annexure - A forming part of the report.
09. PUBLIC DEPOSITS:
During the year, Company has not accepted any deposit under section
58A of the Companies Act, 1956.
10. AUDIT COMMITTEE:
The Company has formed an Audit Committee comprising of three
Directors. The terms of reference of the committee are in line with
the requirements as stipulated u/s. 177 of the Company Act, 2013 and
Corporate Governance as stated in Clause 49 of the Listing Agreement.
11. DIRECTORS:
Mr. Janka Bhogilal Raja, Director will retire by rotation at the
ensuing Annual General Meeting of the Company and being eligible,
offers himself for re-appointment.
During the year, Jangdish Jani resigned in his place Kalpana H Shah
has been inducted in the Board of Directors of the Company and as per
provisions of the Co.Act,2013, She has been appointed as an Ind.
Director for 5 years.
12. ACKNOWLEDGEMENT:
The Board placed on record its deep appreciation for the continued
support from Government agencies, Suppliers, Customers, Banks, all the
Staff members and workmen for their co-operation in the operation of
the Company during the year.
BY ORDER OF THE BOARD OF DIRECTORS
PLACE: BARODA FOR SAPAN CHEMICALS LTD.
DATE : 01/09/2014
Sd/-
MAHESH R SHAH
CHAIRMAN
Mar 31, 2012
To The Members
The Directors have pleasure in presenting the 17th Annual Report
together with audited statement of accounts of the Company for the year
ended on 31st March 2012.
01. OPERATIONS DURING THE YEAR:
During the year under review the CompanyÃs earning has decreased due to
competition and reverse market trends. The Company hopes to achieve
good results in the current year.
02. FINANCIAL RESULTS:
PARTICULARS 2011-12 2010-11
In Rs. In Rs.
Total Income 947472 1219396
Profit before Tax -101818 146484
Provision for Taxation 0 0
Net Profit / Loss -101818 146484
Balance B/F -30588 71230
03. PROJECT AND PROSPECTS:
The company has resorted to development and marketing of software and
consultation in Portfolio Management and other areas.
04. AUDITORS:
The members are requested to appoint auditors for the current year and
to fix their remuneration. M/s. Mehul & Associates' Chartered
Accountants have consented for continuation to act as the auditors of
the Company' if re-appointed.
05. DIRECTORSÃ RESPOSIBILITY STATEMENT:
Pursuant to section 217(2AA) of the Companies Act' 1956 the Directors
confirm that:
(i) In the preparation of the Annual Accounts' the applicable
accounting standards have been
followed along with proper explanation relating to material departures.
(ii) Appropriate accounting policies have been selected and applied
consistently' and have made
judgment and estimates that are responsible and prudent so as to give
true and fair view of the state of affairs of the company for said
period.
(iii) 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 of the assets of the company and
for preventing and detecting frauds and other irregularities.
(iv) The annual accounts have been prepared on a going concern basis.
06. PARTICULARS OF EMPLOYEES:
No employee of the Company qualifies for disclosure pursuant to Section
217(2A) of the Companies Act' 1956' read with the Companies
(Particulars of Employees) Rules' 1975.
07. CONSERVATION OF ENERGY:
The information required Under Section 217(1)(e) of the Companies Act'
1956' read with Companies (Disclosure of particulars in the Report of
Board of Directors) Rules' 1988 is not applicable looking to the nature
of business of the Company.
08. CORPORATE GOVERNANCE:
The Company has implemented various processes in furtherance of
Corporate Governance. Pursuant to Clause 49 of the Stock Exchange
Listing Agreement' report on Corporate Governance is given in the
Annexure à A forming part of the report.
09. PUBLIC DEPOSITS:
During the year' Company has not accepted any deposit under section 58A
of the Companies Act' 1956.
10. AUDIT COMMITTEE:
The Company has formed an Audit Committee comprising of three
Directors. The terms of reference of the committee are in line with the
requirements as stipulated u/s. 292A of the Company Act' 1956 and
Corporate Governance as stated in Clause 49 of the Listing Agreement.
11. DIRECTORS:
Mr. Mahesh Ramanlal Shah will retire by rotation at the ensuing Annual
General Meeting of the Company and being eligible' offers himself for
re-appointment.
12. ACKNOWLEDGEMENT:
The Board placed on record its deep appreciation for the continued
support from Government agencies' Suppliers' Customers' Banks' all the
Staff members and workmen for their co-operation in the operation of
the Company during the year.
BY ORDER OF THE BOARD OF DIRECTORS
PLACE: BARODA FOR SAPAN CHEMICALS LTD.
DATE : 31-08-2012
Sd/-
JAGDISH R. JANI CHAIRMAN
Mar 31, 2011
The Directors have pleasure in presenting the 16th Annual Report
together with audited statement of accounts of the Company for the year
ended on 31st March 2011.
01. OPERATIONS DURING THE YEAR:
During the year under review the Company's earning has decreased due to
competition and reverse market trends. The Company hopes to achieve
good results in the current year.
02. FINANCIAL RESULTS:
PARTICULARS 2010-11 2009-10
(RS. IN LACS) (RS. IN LACS)
Total Income 12.19 17.38
Profit before Tax 10.73 16.2
Provision for Taxation 0 0.16
Net Profit / Loss 1.46 0.95
Balance B/F 0.71 (0.75)
03. PROJECT AND PROSPECTS:
The company has resorted to development and marketing of software;
consultation in Portfolio Management and other areas.
04. AUDITORS:
The members are requested to appoint auditors for the current year and
to fix their remuneration. M/s. Mehul & Associates, Chartered
Accountants have consented for continuation to act as the auditors of
the Company, if re-appointed.
05. DIRECTORS' RESPOSIBILITY STATEMENT:
Pursuant to section 217(2AA) of the Companies Act, 1956 the Directors
confirm that:
(i) In the preparation of the Annual Accounts, the applicable
accounting standards have been followed along with proper explanation
relating to material departures.
(ii) Appropriate accounting policies have been selected and applied
consistently, and have made judgment and estimates that are responsible
and prudent so as to give true and fair view of the state of affairs of
the company for said period.
(iii) 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 of the assets of the company and
for preventing and detecting frauds and other irregularities.
(iv) The annual accounts have been prepared on a going concern basis.
06. PARTICULARS OF EMPLOYEES:
No employee of the Company qualifies for disclosure pursuant to Section
217(2A) of the Companies Act, 1956, read with the Companies
(Particulars of Employees) Rules, 1975.
07. CONSERVATION OF ENERGY:
The information required Under Section 271(1)(e) of the Companies Act,
1956, read with Companies (Disclosure of particulars in the Report of
Board of Directors) Rules, 1988 is not applicable looking to the nature
of business of the Company.
08. CORPORATE GOVERNANCE:
The Company has implemented various processes in furtherance of
Corporate Governance. Pursuant to Clause 49 of the Stock Exchange
Listing Agreement, report on Corporate Governance is given in the
Annexure à A forming part of the report.
09. PUBLIC DEPOSITS:
During the year, Company has not accepted any deposit under section 58A
of the Companies Act, 1956.
10. AUDIT COMMITTEE:
The Company has formed an Audit Committee comprising of three
Directors. The terms of reference of the committee are in line with the
requirements as stipulated u/s. 292A of the Co. Act, 1956 and Corporate
Governance as stated in Clause 49 of the Listing Agreement.
11. DIRECTORS:
Mr. JANAK B RAJA will retire by rotation at the ensuing Annual General
Meeting of the Company and being eligible, offers himself for
re-appointment.
12. ACKNOWLEDGEMENT:
The Board placed on record its deep appreciation for the continued
support from Government agencies, Suppliers, Customers, Banks, all the
Staff members and workmen for their co-operation in the operation of
the Company during the year.
BY ORDER OF THE BOARD OF DIRECTORS
PLACE: BARODA FOR SAPAN CHEMICALS LTD.
DATE : 01-09-2011
Sd/-
JAGDISH R. JANI
CHAIRMAN
Mar 31, 2010
The Directors have pleasure in presenting the 15th Annual Report
together with audited statement of accounts of the Company for the year
ended on 31st March 2010.
01. OPERATIONS DURING THE YEAR:
During the year under review the Companys earning has decreased due to
competition and reverse market trends. The Company hopes to achieve
good results in the current year.
02. FINANCIAL RESULTS:
PARTICULARS 2009-10 2008-09
(RS. IN ACS) (RS. IN LACS)
Total Income 17.38 21.32
Profit before Tax 1.12 04.40
Provision for Taxation 0.16 00.46
NetProfit/-Loss 0.95 03.94
Balance B/F (0.75) (1.70)
03. PROJECT AND PROSPECTS:
The company has resorted to development and marketing of software;
consultation in Portfolio Management and other areas.
04. AUDITORS:
The members are requested to appoint auditors for the current year and
to fix their remuneration. M/s. Mehul 8s Associates, Chartered
Accountants have consented for continuation to act as the auditors of
the Company, if re-appointed.
05. DIRECTORS RESPOSIBILITY STATEMENT:
Pursuant to section 217(2AA) of the Companies Act, 1956 the Directors
confirm that: (i) In the preparation of the Annual Accounts, the
applicable accounting standards have been followed along with proper
explanation relating to material departures.
(ii) Appropriate accounting policies have been selected and applied
consistently, and have made judgment and estimates that are responsible
and prudent so as to give true and fair view of the state of affairs of
the company for said period.
(iii) 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 of the assets of the company and
for preventing and detecting frauds and other irregularities.
(iv) The annual accounts have been prepared on a going concern basis.
06. PARTICULARS OF EMPLOYEES:
No employee of the Company qualifies for disclosure pursuant to Section
217(2A) of the Companies Act, 1956, read with the Companies
(Particulars of Employees) Rules, 1975.
07. CONSERVATION OP ENERGY:
The information required Under Section 271(l)(e) of the Companies Act,
1956, read with Companies (Disclosure of particulars in the Report of
Board of Directors) Rules, 1988 is not applicable looking to the nature
of business of the Company.
08. CORPORATE GOVERNANCE:
The Company has implemented various processes in furtherance of
Corporate Governance. Pursuant to Clause 49 of the Stock Exchange
Listing Agreement, report on Corporate Governance is given in the
Annexure - A forming part of the report.
09. PUBLIC DEPOSITS:
During the year, Company has not accepted any deposit under section 58A
of the Companies Act, 1956.
10. AUDIT COMMITTEE:
The Company has formed an Audit Committee comprising of three
Directors. The terms of reference of the committee are in line with the
requirements as stipulated u/s. 292A of the Co. Act, 1956 and Corporate
Governance as stated in Clause 49 of-the Listing Agreement.
11. DIRECTORS:
Mr. JANAK B RAJA will retire by rotation at the ensuing Annual General
Meeting of the Company and being eligible, offers himself for
re-appointment.
12. ACKNOWLEDGEMENT:
The Board placed on record its deep appreciation for the continued
support from Government agencies, Suppliers, Customers, Banks, all the
Staff members and workmen for their co-operation in the operation of
the Company during the year.
BY ORDER OF THE BOARD OF DIRECTORS
PLACE: BARODA FOR SAPAN CHEMICALS LTD.
DATE : 01-09-2010
Sd/- JAGDISH R.
JANI CHAIRMAN