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

Directors Report of Sarvamangal Mercantile Company Ltd.

Mar 31, 2014

Dear Members,

The Directors have pleasure in presenting the THIRTY FIRST ANNUAL REPORT together with the Audited Statement of Accounts for the year ended March 31,2014.

Financial Highlights :

Rs. In Lacs

Current Year Previous Year

Gross Profit / (Loss) (15.81) (25.30)

Less: Interest 30.79 -

Depreciation 0.63 0.84

Provision for Income Tax - -

Income tax for Earlier Year 0.03 (0.01)

Leaving a Balance (15.64) (26.13)

Balance brought forward from previous year 403.10 429.23

Balance transferred from General Reserve - -

Profit / (Loss) available for appropriation 387.45 403.10

Surplus carried to Balance - Sheet 387.45 403.10

Balance carried to balance sheet 387.45 403.10

DIVIDEND

Your Directors do not recommend any dividend, for the year, under review.

FIXED DEPOSITS :

During the year under review the Company has not accepted any deposit from the public.

PARTICULARS OF EMPLOYEES:

None of the employees are drawing salary and allowance exceeding the limits prescribed U/S. 217(2A) of the Companies Act, 1956 hence the information need not to be given.

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

Since the Company has no manufacturing activities the disclosure of particulars as required under section 217(1)(e) of the Companies Act, 1956 , read with the (Disclosure of particulars in the Report of the Board of Directors) Rules 1988 are not applicable in so far it relates to the conservation of energy and technology absorptions.

There were no foreign exchange earnings and outgo during the year under review :

DIRECTORS RESPONSIBILITY STATEMENT AS PER SECTION 217(2AA) OF THE COMPANIES ACT, 1956

The Board of Directors of the Company Confirms:

(I) that in the preparation of the accounts for the financial year ended 31st March 2014, the applicable accounting standards have been followed.

(II) that the Directors have 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 have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguard of the assets of the Company and for preventing and detecting fraud and other irregularities;

(IV) that the directors have prepared the accounts for the financial year ended 31st March , 2014 on a ''going concern'' basis.

CERTIFICATE OF COMPLIANCE :

The Certificate of Compliance for all the provisions the Companies Act 1956, by a secretary in whole time practice is attached hereto, as required under section 383A of the said Act.

LISTING / TRADING OF SHARES :

Your Company shares are listed with The Bombay Stock Exchange Limited, PJ Towers, Dalal Street, Mumbai - 400001.

The Scrip code of shares of the company is 506190.

The Listing fee for the current year 2014-2015 has been paid.

DIRECTORS

Mr. Adarsh Somani retires by rotation and being eligible offers him selves for reappointment.

In terms of Section 149, 152 Schedule IV and other applicable provisions, if any, of the Companies Act, 2013 read with Companies (Appointment and Qualification of Director) Rules, 2014, the Independent Directors can hold office for a term of up to five (5) consecutive years on the Board of Directors of your company and are not liable to retire by rotation. Accordingly, it is proposed to appoint Shri B K Toshniwal and Shri Sanjay Jain as Independent Director of the Company up to 5(five) consecutive years i.e. up to 31st March, 2019.

The brief resume of the aforesaid directors and other information have been detailed in the Notice.

AUDITORS

The Auditors, M/s S G Kabra & Co., Chartered Accountants hold office until the conclusion of the forthcoming Annual General Meeting and are recommended for reappointment.

Pursuant to the provisions of Section 139 of the Companies Act, 2013 and rules made thereunder, M/s. S G Kabra & Co. Chartered Accountant (FRN No. 104507W), are being appointed as Auditors as per the resolution included in the Notice of 31st Annual General Meeting.

Certificate from the Auditors has been received to the effect that their reappointment, if made, would be within the limits prescribed under Section 141(3)(g) of the Companies Act, 2013.

FOR AND ON BEHALF OF THE BOARD

Place : Mumbai Adarsh Somani Date : 28th May, 2014 (Director)

B. K. Toshniwal (Director)

Sanjay Jain (Director)


Mar 31, 2013

To The Members

The Directors have pleasure in presenting the THIRTIETH ANNUAL REPORT together with the Audited Statement of Accounts for the year ended March 31, 2013.

Financial Highlights :

Rs. In Lacs

Current Year Previous Year

Gross Profit / (Loss) (25.30) 14.85

Less: Interest 7.62

Depreciation 0.84 1.11

Provision for Income Tax 1.80

Income tax for Earlier Year (0.01)

Leaving a Balance (26.13) 4.32

Balance brought forward from previous year 429.23 424.91

Balance transferred from General Reserve

Profit / (Loss) available for appropriation 403.10 429.23

Surplus carried to Balance - Sheet 403.10 429.23

Balance carried to balance sheet 403.10 429.23

DIVIDEND

Your Directors do not recommend any dividend, for the year, under review.

FIXED DEPOSITS :

During the year under review the Company has not accepted any deposit from the public.

PARTICULARS OF EMPLOYEES :

None of the employees are drawing salary and allowance exceeding the limits prescribed U/S. 217(2A) of the Companies Act, 1956 hence the information need not to be given.

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

Since the Company has no manufacturing activities the disclosure of particulars as required under section 217(1)(e) of the Companies Act, 1956 , read with the (Disclosure of particulars in the Report of the Board of Directors) Rules 1988 are not applicable in so far it relates to the conservation of energy and technology absorptions.

There were no foreign exchange earnings and outgo during the year under review :

DIRECTORS RESPONSIBILITY STATEMENT AS PER SECTION 217(2AA) OF THE COMPANIES ACT, 1956

The Board of Directors of the Company Confirms:

(I) that in the preparation of the accounts for the financial year ended 31st March 2013, the applicable accounting standards have been followed.

(II) that the Directors have 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 have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguard of the assets of the Company and for preventing and detecting fraud and other irregularities;

(IV) that the directors have prepared the accounts for the financial year ended 31st March , 2013 on a ''going concern'' basis.

CERTIFICATE OF COMPLIANCE :

The Certificate of Compliance for all the provisions the Companies Act 1956, by a secretary in whole time practice is attached hereto, as required under section 383A of the said Act.

LISTING / TRADING OF SHARES :

Your Company shares are listed with The Bombay Stock Exchange Limited, P.J Towers, Dalal Street, Mumbai - 400001.

The Scrip code of shares of the company is 506190.

The Listing fee for the current year 2013-2014 has been paid.

DIRECTORS

Mr. B. K. Toshniwal retires by rotation and being eligible offers himselves for reappointment.

AUDITORS

The Auditors, M/s. S G Kabra & Co. Chartered Accountants, hold office until the conclusion of the Annual General Meeting and are recommended for re appointment, Certificate from the Auditors has been received to the effect that their reappointment, if made, would be within the limits prescribed under section 224(1B) of the Companies Act 1956.

FOR AND ON BEHALF OF THE BOARD

Place : Mumbai B. K. Toshniwal

Date : 29th May, 2013 (Director)

Adarsh Somani

(Director)

Sanjay Jain

(Director)


Mar 31, 2012

To The Members

The Directors have pleasure in presenting the TWENTY NINTH ANNUAL REPORT together with the

Audited Statement of Accounts for the year ended March 31, 2012.

Financial Highlights: Rs. In Lacs

Current Year Previous Year

Gross Profit / (Loss) 14.85 (120.72)

Less: Interest 7.62 5.73

Depreciation 1.11 1.48

Provision for Income Tax 1.80 0.000

Leaving a Balance 4.32 (127.93)

Balance brought forward from previous year 424.91 552.84

Balance transferred from General Reserve

Profit / (Loss) available for appropriation 429.23 424.91

Surplus carried to Balance - Sheet 429.23 424.91

Balance carried to balance sheet 429.23 424.91

DIVIDEND

Your Directors do not recommend any dividend, for the year, under review.

FIXED DEPOSITS :

During the year under review the Company has not accepted any deposit from the public.

PARTICULARS OF EMPLOYEES :

None of the employees are drawing salary and allowance exceeding the limits prescribed U/S. 217(2A) of the Companies Act, 1956 hence the information need not to be given.

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

Since the Company has no manufacturing activities the disclosure of particulars as required under section 217(1 )(e) of the Companies Act, 1956, read with the (Disclosure of particulars in the Report of the Board of Directors) Rules 1988 are not applicable in so far it relates to the conservation of energy and technology absorptions.

There were no foreign exchange earnings and outgo during the year under review:

DIRECTORS RESPONSIBILITY STATEMENT AS PER SECTION 217(2AA) OFTHE COMPANIES ACT, 1956

The Board of Directors of the Company Confirms:

(I) that in the preparation of the accounts for the financial year ended 31st March 2012, the applicable accounting standards have been followed.

(II) that the Directors have 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 have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguard of the assets of the Company and for preventing and detecting fraud and other irregularities;

(IV) that the directors have prepared the accounts for the financial year ended 31s1 March , 2012 on a' going concern' basis.

CERTIFICATE OF COMPLIANCE:

The Certificate of Compliance for all the provisions the Companies Act 1956, by a secretary in whole time practice is attached hereto, as required under section 383A of the said Act.

LISTING /TRADING OF SHARES:

Your Company shares are listed with The Bombay Stock Exchange Limited, P.J Towers, Dalai Street, Mumbai-400001.

The Scrip code of shares of the company is 506190.

The Listing fee for the current year 2012-2013 has been paid.

DIRECTORS

During the year Shri Rajendra Somani, has resigned from directorship of the Company. The Board thank for his services and support rendered by him to the company.

Mr. Adarsh Somani retires by rotation and being eligible offers themselves for reappointment.

AUDITORS

The Auditors, M/s. S G Kabra & Co. Chartered Accountants, hold office until the conclusion of the Annual General Meeting and are recommended for re appointment Certificate from the Auditors has been received to the effect that their reappointment, if made, would be within the limits prescribed under section 224(1 B) of the Companies Act 1956.

FOR AND ON BEHALF OF THE BOARD

Place : Mumbai

Date :30th May, 2012 Adarsh Somani

(Director)

B. K. Toshniwal

(Director)

Sanjay Jain

(Director)


Mar 31, 2011

The Directors have pleasure in presenting the TWENTY-EIGHTTH Annual Report together with the Audited Statement of Accounts for the year ended 31st March' 2011.

Rs. In Lacs Financial Highlights : Current Previous

Year Year

Gross Profit/(Loss) (120.72) 10.76

Less: Interest 5.73 0.56

Depreciation 1.48 1.97

Provision for Income tax 0.00 0.00

Leaving a Balance (127.93) 8.23

Balance brought forward from previous year 552.84 544.61

Balance transferred from General Reserve - -

Profit / (Loss) available for appropriation 424.91 552.84

Surplus carried to Balance Sheet 424.91 552.84

Balance carried to Balance Sheet 424.91 552.84

DIVIDEND :

Your Directors do not recommend any dividend, for the year.

FIXED DEPOSITS :

During the year under review the Company has not accepted any deposit from the public.

PARTICULARS OF EMPLOYEES :

None of the employees are drawing salary and allowance exceeding the limits prescribed U/S. 217(2A) of the Companies Act, 1956 hence the information need not to be given.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO : Since the Company has no manufacturing activities the disclosure of particulars as required under Section 217 (1) (e) of the Companies Act 1956, read with the (Disclosure of Particulars in the Report of the Board of Directors) Rules 1988 are not applicable in so far it relates to the conservation of energy and technology absorptions. There were no foreign exchange earnings and outgo during the year under review :

DIRECTORS RESPONSIBILITY STATEMENT AS PER SECTION 217(2AA) OF THE COMPANIES ACT,1956.

Pursuant to the requirement under section 217(2AA) of the Companies Act, 1956 with respect to director's responsibility statement, it is hereby confirmed.

a) that in the preparation of the accounts for the financial year ended 31st March'2011 the applicable accounting standards have been followed

b) that the director's have selected such accounting policies and applied them consistently and made judgement 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.

c) that 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 safeguard of the assets of the company and for preventing and detecting fraud and other irregularities;

d) that the directors have prepared the accounts for the financial year ended 31st March'2011 on a 'going concern' basis. CERTIFICATE OF COMPLIANCE :

The Certificate of Compliance for all the provisions the Companies Act 1956, by a secretary in whole time practice is attached

hereto, as required under section 383 A of the said Act.

LISTING /TRADING OF SHARES: Your Company shares are listed with The Bombay Stock Exchange Limited P.J. Towers, Dalai Street, Mumbai 400 001, but were suspended for trading. The Board is pleased to inform the members that suspension of trading has been revoked by Bombay stock Exchange Limited and the shares are now trade able in Bombay Stock Exchange Limited.

The Scrip code of shares of the company is 506190 The listing fee for the current year have been paid.

DIRECTORS :

Shri B. K. Toshniwal & Shri Sanjay Jain Director of the Company retires by rotation under the Company's Articles of Association and is eligible for re-appointment

AUDITORS :

Members are requested to appoint Auditors for the current year and fix their remuneration, M/s. S.G. Kabra & Co. Chartered Accountants, the existing Auditors have informed their eligibility for re-appointment.

For and on behalf of the Board

RAJENDRA SOMANI (DIRECTOR)

Place: Mumbai ADARSH SOMANI (DIRECTOR)

Date : 25th August'2011 B.K. TOSHNIWAL (DIRECTOR)


Mar 31, 2010

The Directors have pleasure in presenting the TWENTY-SEVENTH Annual Report together with the Audited Statement of Accounts for the year ended 31st March 2010.

FINANCIAL HIGHLIGHTS :

Rs. In Lacs

Current Previous Year Year

Gross Profit/(Loss) 10.76 (125.02)

Less: Interest 0.56 0.80

Depreciation 1.97 2.63

Provision for Income tax 0.00 0.24

Leaving a Balance 8.23 (128.69)

Balance brought forward from previous year 544.61 673.30

Balance transferred from General Reserve - -

Profit / (Loss) available for appropriation 552.84 544.61 Surplus carried to Balance Sheet 552.84 544.61

Balance carried to Balance Sheet 552.84 544.61

DIVIDEND :

Your Directors do not recommend any dividend, for the year.

FIXED DEPOSITS :

During the year under review the Company has not accepted any deposit from the public.

PARTICULARS OF EMPLOYEES :

None of the employees are drawing salary and allowance exceeding the limits prescribed U/S. 217(2A) of the Companies Act, 1956 hence the information need not to be given.

CONSOLIDATION OF ACCOUNTS:

In accordance with the Accounting Standard 21 issued by ICAI Consolidated Financial Statement forms part of this Report & accounts.

CONSERVATION OF ENERGY, TECHNOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO :

Since the Company has no manufacturing activities the disclosure of particulars as required under Section 217 (1) (e) of the Companies Act 1956, read with the (Disclosure of Particulars in the Report of the Board of Directors) Rules 1988 are not applicable in so far it relates to the conservation of energy and technology absorptions.

There were no foreign exchange earnings and outgo during the year under review :

DIRECTORS RESPONSIBILITY STATEMENT AS PER SECTION 217(2AA) OF THE COMPANIES ACT,1956.

Pursuant to the requirement under section 217(2AA) of the Companies Act, 1956 with respect to directors responsibility statement, it is hereby confirmed.

a) that in the preparation of the accounts for the financial year ended 31st March2010 the applicable accounting standards have been followed

b) that the directors have selected such accounting policies and applied them consistently and made judgement 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.

c) that 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 safeguard of the assets of the company and for preventing and detecting fraud and other irregularities;

d) that the directors have prepared the accounts for the financial year ended 31st March2010 on a going concern basis.

CERTIFICATE OF COMPLIANCE :

The Certificate of Compliance for all the provisions the Companies Act 1956, by a secretary in whole time practice is attached hereto, as required under section 383 A of the said Act.

LISITING :

Your Company is listed with The Bombay Stock Exchange Limited P.J. Towers, Dalai Street, Mumbai 400 001.

DIRECTORS :

Shri Rajendra Somani & Shri Adarsh Somani Director of the Company retires by rotation under the Companys Articles of Association and is eligible for re-appointment

AUDITORS :

Members are requested to appoint Auditors for the current year and fix their remuneration, M/s. S.G. Kabra & Co. Chartered Accountants, the existing Auditors have informed their eligibility for re- appointment.

QUALIFICATION BY AUDITORS

The observation of auditors in their Report on the Accounts read with relevant note is self explanatory.

For and on behalf of the Board

RAJENDRA SOMANI

(DIRECTOR)

ADARSH SOMANI

(DIRECTOR)

B. K. TOSHN1WAL

(DIRECTOR)

Place : Mumbai

Date : 2nd September2010

 
Subscribe now to get personal finance updates in your inbox!