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Directors Report of Senthil Infotek Ltd.

Mar 31, 2015

Dear Members,

The directors have pleasure in presenting their 21st Annual Report on the business and operations of the company together with the Audited Statement of Accounts for the year ended 31st March, 2015.

1. FINANCIAL HIGHLIGHTS:

During the year under review, performance of your company as under:

(Rs. In Lakhs)

Particulars 2014-2015 2013-14

Total Revenue 8,07 10.47

Total Expenses 7.52 9.88

Gross Profit 0.55 0.59

Provision for Depreciation -- -- Net Profit Before Tax 0.55 0.59

Provision for Tax 0.18 0.18

Net Profit After Tax 0.37 0.41

Balance of Profit brought forward 81.94 81.53

Balance available for appropriation 82.31 81.94

Proposed Dividend on Equity Shares -- --

Tax on proposed Dividend -- --

Transfer to General Reserve -- --

Surplus carried to Balance Sheet 82.31 81.94

2. STATE OF COMPANY'S AFFAIRS & FUTRURE OUTLOOK

During the period under review, the turnover of the Company has decreased to 8.07 Lakhs as against that of the previous year. of Rs. 10.47 Lakhs. The financials depict decrease in profits for the current year as against the profit of Rs. 0.37 Lakhs mainly due to the decrease in revenues of the Company.

The changing economic and business conditions followed by evolving consumer/client preferences and rapid technological innovations and adopting, the Company is making efforts for creating an increasingly receptive market in the present IT Sector. Thus, the current driving motto of all IT sectors Companies is to transform their operation and business undertakings in the most productive manner and earn returns

However, the Company is optimistic in improving and continue to focus on reflecting and delivering superior performance on projects undertaken and reap profits in the coming years.

3. CHANGES IN NATURE OF BUSINESS:

During the period under review, there is no change in the nature of business carried out by the Company.

4. DIVIDEND

During the F.Y 2014-15, the Company has not been able to earn profits so as to reward the shareholders. Therefore, your directors do not recommend any dividend for the year under review.

5. AMOUNTS TRANSFERRED TO RESERVES:

No Transfer to Reserves is proposed and accordingly the entire balance available in profit and loss account is retained in it.

6. SHARE CAPITAL:

The Share Capital of your Company is Rs. 5,05,00,000 During the Financial Year 2014-15, there has been no change in the share Capital of the Company.

7. PUBLIC DEPOSITS:

The Company has neither accepted nor renewed any deposits from public within the meaning of Section 73 of the Companies Act, 2013 read with Companies (Acceptance of Deposits) Rules, 2014 during the year.

8. DIRECTORS

Your Board consists of SIX Directors including FOUR Independent non- executive Directors. The declaration from all the independent directors are being obtained both at the time of appointment and at the first Board meeting of the financial year annually.

A. BOARD MEETINGS

A calendar of meetings is prepared and circulated in advance to the Directors. During the financial year under review, your Board met FIVE times and the dates of the board meeting held are 29.05.2014, 31.07.2014, 14.08.2014, 31.10.2014 and 31.01.2015The details of the Board Meetings held during the year are covered in the Clause No. 2 of the Corporate Governance Report.

Shri Chellamani Pitchandi&Shri Senraj Muthiah Sennavanadi,directors of the Company are liable to retire by rotation at the ensuing Annual General Meeting and being eligible offer themselves for re-appointment.

Your Board recommends their appointment.

B. INDEPENDENT DIRECTORS AND THEIR DECLARATION:

During the year under review, your Board in the Annual General Meeting held on 29th September, 2014 has appointed Smt. Sarada Dittakavi as an independent directors of the Company to comply with the provisions of Sections 149 of the Companies Act, 2013 which mandates every listed Company to have at least 1/3rd of its directors as Independent directors.

All the Independent Directors have given a declaration under sub-section (7) of Section 149 of the Companies Act, 2013 that they meet the criteria of independence as laid down under Section 149 (6) of the Companies Act, 2013 and Clause 49 of the Listing Agreement.

C. KEY MANAGERIAL PERSONNEL (KMPs)

Your Company has not Appointed company secretary & Chief Financial Officer (KMPs) as required under section 203 due to meager business revenues

D. BOARD EVALUATION:

Pursuant to the provisions of the Companies Act, 2013 and Clause 49 of the Listing Agreement, the Board has devised a policy on evaluation of performance of Board of Directors, Committees and Individual directors.

The extract of thepolicies are provided along with board evaluation template is in "Annexure II"

9. DIRECTORS' RESPONSIBILITY STATEMENT

In accordance with the provisions of Section 134(5) of the Companies Act 2013, your directors confirm that:

a) In the preparation of the annual accounts for the financial year ended 31st March, 2015, the applicable accounting standards had been followed along with proper explanation relating to material departures;

b) 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 the Company as at 31st March, 2015 and of the profit /loss 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 the Companies Act 2013 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;

e) The directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

f) The directors had laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively.

10. DETAILS IN RESPECT OF ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH

REFERENCE TO THE FINANCIAL STATEMENTS:

The Company has internal financial controls which are adequate and were operating effectively. The controls are adequate for ensuring the orderly & efficient conduct of the business, including adherence to the company's policies, the safe guarding of assets, the prevention and detection of frauds and errors, the accuracy and completeness of accounting records and timely preparation of reliable financial information.

11. STATUTORY AUDITORS:

Pursuant to the resolution passed by the members in their 20th Annual General Meeting held on 29.09.2014, M/s P Srinivasan & Co., Chartered Accountants, the statutory Auditors of the Company to hold the office till the conclusion of the annual general meeting of the company to be held in the calendar year 2017 subject to ratification every year. Accordingly, the Company has received written consent and a certificate from them to the effect that such appointment if made within the limits as prescribed under Section 139 of the Companies Act, 2013 read with the respective Rules. The Board recommends for ratification for their appointment.

12. SECRETARIAL AUDIT REPORT:

Pursuant to the provisions of Section 204 of the Companies Act, 2013 and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company had appointed Shri. Ajay S Shrivastava, Practicing Company Secretary, Hyderabad to undertake the Secretarial Audit and certify the same for the Company.

As regrading appointment of KMPs, the same is clarified in point 8(C) above.

The Secretarial Audit Report is provided as "Annexure III".

The qualifications made in the Secretarial Audit Report are clarified hereunder-

13. EXPLANATION TO THE QUALIFICATIONS/RESERVATIONS /ADVERSE REMARKS IF ANY, MADE BY STATUTORY AUDITORS AND SECRETARIAL AUDITORS IN THEIR REPORT:

Since there are no qualification, reservation, adverse remark or disclaimer made by the statutory auditor in his report and / or by the Secretarial Auditor in the Secretarial Audit report, there is no need to give any explanation by the Board in this report.

14. MANAGERIAL REMUNERATION:

A statement containing the details of is given as Annexure 'E' forming part of this Report

The details of Remuneration paid to the Directors, KMP's and Employees as required under Section 197(12) of the Companies Act, 2013 read with Rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are given in Form mGt-9 forming part of the Directors Report and Corporate Governance Report, and same are Nil

15. DETAILS OF SIGNIFICANT & MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNAL

During the year under review, there has been no significant and material orders passed by any regulators or courts or tribunal.

16. PARTICULARS OF EMPLOYEES:

There are no employees drawing remuneration as prescribed under Section 197 of the Companies Act, 2013. Hence the details are NIL

17. ANTI SEXUAL HARASSMENT POLICY:

Your Company has female employees and the majority of working staff/ employees arescattered and mobile in nature, hence, there lies no question of sexual Harassment and neither any complaints received/resolved or pending.

However, the Company adopts the Policy on prevention, prohibition and redressal of sexual harassment at workplace in line with the provisions of the Sexual Harassment of Women at workplace(Prevention, Prohibition and Redressal) Act, 2013 and the Rules thereunder.

18. STATEMENT CONCERNING DEVELOPMENT AND IMPLEMENTATION OF RISK MANAGEMENT POLICY OF THE COMPANY

The Company does not have any Risk Management Policy as the elements of risk threatening the Company's existence are very minimal.

19. ESTABLISHMENT OF VIGIL MECHANISM:

Your Company has laid down Whistle Blower Policy covering Vigil Mechanism with protective Clauses for the Whistle Blowers. The Policy is annexed to this Report as Annexure IV. The Whistle Blower Policy is made available on the website of the Companywww.senthilinfo.com

20. PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:

There are no related party transactions.

21. CORPORATE SOCIAL RESPONSIBILITY (CSR)

Since during the financial year under review, the Company's performance does not attract

the provisions set under Section 135 of the Companies Act, 2014 read with rules made thereunder, hence, the compliance to the to the provisions of Section 135 of the Companies Act, 2013 read with Companies (Corporate Social Responsibility) Rules, 2014, is not required.

22. CORPORATE GOVERNANCE CERTIFICATE:

Your Company has been constantly reassessing and benchmarking itself with well- established Corporate Governance practices besides strictly complying with the requirements of Clause 49 of the Listing Agreement and applicable provisions of Companies Act, 2013.

A report on Corporate Governance covering among others details of meetings of the Board and Committees along with a certificate for compliance with the Clause 49 of the Listing Agreement issued by the Practicing Company Secretary- Shri. Ajay S Shrivastava, forms part of this Annual Report.

Your Board has in accordance with the requirements of Companies Act, 2013 and Clause 49 of the Listing Agreement has adopted new policies and amended existing policies such as policy on Related Party Transaction, Code of Conduct for Directors and Senior Management, Corporate Social Responsibility Policy and Whistle Blower and Vigil Mechanism Policy. These policies are available on the website of the Company and can be viewed on www.senthilinfo.com

I. AUDIT COMMITTEE:

The Board has constituted the Audit Committee. The composition, powers, role and terms of reference of the Committee are in accordance with the requirements mandated under Section 177 of the Companies Act, 2013 and Clause 49 of the Listing Agreement. The details of the Audit Committee along with Meetings held during the year are covered in the Clause 7 of the Corporate Governance Report in ANNEXURE IV

II. NOMINATION AND REMUNERATION COMMITTEE-ANNUXERE V

In compliance with the requirements of Section 178 of the Companies Act, 2013, the Nomination & remuneration Committee of your Board had fixed various criteria for nominating a person on the Board which inter alia include desired size and composition of the Board, age limits, qualification / experience, areas of expertise and independence of individual. Your Company has also adopted a Remuneration Policy, salient features whereof is annexed to this report. Annexure V

23. LISTING:

The shares of your Company are listed at BSE Ltd and Madras Stock Exchange Limited (De-Recognized). The Company has duly complied with all the applicable provisions of the Listing Agreement.

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

The particulars as prescribed under Section 134(3) (m) of the Companies Act, 2013 read with Rule 8 of the Companies (Accounts) Rules, 2014 are provided in "Annexure VIM" which forms part of this report.

CONSERVATION OF ENERGY :

1 the steps taken or impact on conservation of energy

2 the steps taken by the company for utilizing alternate sources of energy

Your Company, being a service provider, requires minimal energy consumption and every endeavor is made to ensure optimal use of energy, avoid wastages and conserve energy as far as possible

3 the capital investment on energy conservation equipment's

TECHNOLOGY ABSORBTION:

1. The efforts made towards technology absorption

Since the Company is not engaged in any manufacturing, the information in connection with technology absorption is Nil.

2. The benefits derived like product improvement, cost reduction, product development or import substitution

3. In case of imported technology (imported during the last three years reckoned from the beginning of the financial year)- - the details of technology imported the year of import;

* whether the technology been fully absorbed

* if not fully absorbed, areas where absorption has not taken place, and the reasons thereof

3. The expenditure incurred on Research and Development

FOREIGN EXCHANGE EARNINGS AND OUTGO:

Particulars of foreign currency earnings and outgo during the year are NIL.

25. DISCLOSURES

i. Particulars of loans, guarantees and investments:

Particulars of loans, guarantees and investments made by the Company required under section 186 (4) of the Companies Act, 2013 are contained in Note No. 13 to the Standalone Financial Statements.

ii. Transactions with Related Parties:

There are no related party transactions.

iii. Unclaimed Dividend:

During the year under review, in terms of provisions of Investors Education and Protection Fund (Awareness and Protection of Investors) Rules, 2014, unclaimed dividend declared by the Company is Nil.

iv. Subsidiaries & joint ventures:

The company neither has any subsidiaries nor entered into joint venture with any Company or institution during the year under review

v. Employee stock options & sweat equity shares:

During the year under review, the Company has not issued any Employee Stock Options and sweat Equity shares

vi. Extract of the Annual Return:

Pursuant to the provisions of Section 134(3)(a) of the Companies Act, 2013, the extract of the Annual Return in Form MGT-9 is attached as Annexure VII

26. ACKNOWLEDGEMNENTS:

Your directors take this opportunity to express their gratitude for the assistance and co- operation extended by Government Authorities, Bankers and other business associates along with our estimated Shareholders and employees.

For and on behalf of the Board SENTHIL INFOTEK LIMITED

Sd/-

Chellamani Pitchandi Managing Director DIN: 01256061

Sd/-

Seetha Lakshmi Pitchandi Date: 26.08.2015 Director Place: Hyderabad DIN:02779034


Mar 31, 2014

The Members

SENTHIL INFOTEK LIMITED

The Directors present the 20th Annual Report of the Company together with the Audited Balance Sheet and Statement of Profit and Loss for the year ended 31stMarch, 2014.

1. FINANCIAL RESULTS:

During the year, the Company carried on its operations on software and dataprocessing operations with the following results.

(Rupees in Lakhs) Particulars 31.03.2014

Income from Operations ( Incl Other Income) 10.47

Net profit before Taxes 0.59

Net profit after Taxes 0.41

2. OPERATIONS:

During the year under review, although the revenue from operations were reduced to Rs. 10.30 Lakhs as against Rs. 19.16 Lakhs in the previous year, the Net profit after tax has increased to Rs. 0.41 Lakhs. Owing to the Company''s initiative for marginalizing its resources to productive use, the Company has substantially decreased its expenses from Rs. 19.39 lakhs to Rs. 9.88 Lakhs.The Company has undertaken software development and processing works during the year.

3. FUTURE OUTLOOK:

The changing economic and business conditions followed by evolving consumer/client preferences and rapid technological innovations and adopting, the Company is making efforts for creating an increasingly receptive market in the present IT Sector. Thus, the current driving motto of all IT sectors Companies is to transform their operation and business undertakings in the most productive manner and earn returns.

On the other hand, it is said that the Indian IT outsourcing sector''s exports may grow by 12-14 per cent, an optimistic estimate, in the current financial year, instills the investors and the management of the Companies about their

secured investment and flow of more funds for projects. Also, owing to the political transparency and separation of state hood, shall allow the Companies to plan and execute their projects in efficient manner.

The company is focused to unlock such demand and undertake new projects with low investment, thereby promising the yields and better market capitalization in the said industry.

4. DIVIDEND:

Due to inadequacy of profits, your Directors do not recommend any dividend for the Financial year ended 31.03.2014.

5. DIRECTORS:

Pursuant to the provisions of Section 152 (6)(a) of the Companies Act, 2013, Mr. Chellamani Pitchandi and Shri. Senraj Muthiah Sennavanadi, Directors retire by rotation at theensuing Annual General Meeting and being eligible, offerthemselves for re-appointment.

Pursuant to the notification of Section 149 and other applicable provisions of the Companies Act, 2013 read with rules thereon and the Clause 49 of the Listing Agreement, the Independent Directors viz. Shri. Sreehari Ankemand Mrs. D. Saradaare proposed to be appointed as Independent Directors for five years from the date of ensuingAnnual General Meeting.

6. AUDITORS:

M/s P. Srinivasan & Co., Chartered Accountants, Secunderabad retire as statutory Auditors of the Company at the ensuing Annual General Meeting and being eligible,offer themselves for re-appointment for holding office from this Meeting until the conclusion of the next Annual General Meeting. The Board of Directors shall fix their remuneration as per the terms agreed upon.

Pursuant to the Companies (Audit & Auditors ) Rules, 2014, the Board recommends the appointment of Statutory Auditors to hold office for next Three Years, subject to ratification at the every Annual General Meeting of the Company.

7. FIXED DEPOSITS:

Your Company has not accepted fixed deposits from public or its shareholdersduring the year under review.

8. DIRECTORS RESPONSIBILITY STATEMENT:

In accordance with the provisions of Section 134(5) of the Companies Act,2013, Your Directors report:

i. That in the preparation of the Annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departure.

ii. That your Directors have selected appropriate 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 and loss account of Company for that period.

iii. That your Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of your Company and for preventing and detecting any frauds and other irregularities.

iv. That your Directors have prepared the Annual Accounts on going concern basis for the Financial Year ended 31.03.2014 and

v. That your directors had laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and were operating efficiently.

vi. That your Directors had devised proper systems to ensure the compliance with the provisions of all applicable laws and that such systems were adequate and operating efficiently.

9. PARTICULARS OF EMPLOYEES:

During the year under review, there were NIL employees drawing remuneration above the limits specified under Section 217(2A) read with the Companies (Particulars of Employees) Rules, 1975 as amended.

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

Pursuant to the provisions of Section 134(3)(m) of the Companies Act, 2013 read with Rule 8 of Companies (Accounts) Rules, 2014, the particulars of conservation of energy, technology absorption and foreign exchange earnings and outgo are NIL.

11. RESEARCH AND DEVELOPMENT:

The Company continually invests in Research and Development of new products and services, designs, frameworks, processes and methodologies. This effort creates a strong quality culture, enhances productivity and customer satisfaction. The goal of research and development is to create new knowledge. The purpose of a research group in a company is to create new knowledge the company can use to improve the business. Research is typically not a business or a profit center but a long term investment, which helps a company to generate more revenue and profits. A technology player needs research simply to develop new technologies that it can then use to bring out newer products in the market place. Research and Development strategies are linked with those of the entire organization such that product development drives business value throughout its functional departments.

12. LISTING:

The shares of your Company are listed at BSE Limited and Madras Stock Exchange ( Now de-funct) .

13. SUBSIDIARY COMPANY:

There are no subsidiaries to your Company as on the date of report.

14. CORPORATE GOVERNANCE REPORT:

The Company is committed to maintain the highest standards of corporate governance and adhere to the corporate governance requirements set out by SEBI. The Report on corporate governance as stipulated under Clause 49 of the Listing Agreement forms part of the Annual Report.

The requisite certificate from the Practicing Company Secretary confirming compliance with the conditions of corporate governance as stipulated under the aforesaid Clause 49 is attached to the report on Corporate governance.

15. MANAGEMENT DISCUSSION AND ANALYSIS (MDA):

MDA is provided as a separate section in the annual report.

16. NOMINATION & REMUNERATION COMMITTEE:

The Board has constituted Nomination & Remuneration Committee consisting of 3 Non- executive Independent Directors. The terms of reference of the Committee cover nomination of members to the Board, evaluation of compensation and benefits for Executive Director(s), Non-Executive Director(s) and looking after the issues relating to employees remuneration.

During the financial year 2013-14 (nine months period ended 31.03.2014), there were no meetings of the Committee since no remuneration is paid to any Director.

17. ACKNOWLEDGEMENTS:

Your Directors take this opportunity to express their grateful appreciation for theco-operation and assistance by Government Authorities, Bankers and otherbusiness associates as well as shareholders and employees.

For and on behalf of the Board SENTHIL INFOTEK LIMITED

Sd/- C. PITCHANDI Managing Director

Sd/- Date: 14.08.2014 P. SEETHALAKSHMI Place: Secunderabad Director


Mar 31, 2010

The Directors present the Sixteenth Annual Report of the Company together with the Audited Accounts for the year ended 31 March 2010.

Financial Results

During the Year the company started its operations on software and data processing operations with the following results.

Income earned 4,57,964

Net profit before Taxes 75,964

Net profit after Taxes 52,491

Since the floriculture activity is not having very good prospects your directors are continuing the Agro based activity and have disposed off part of the surplus land.

Corporate Governance

Your Company has complied with the recommendations of the Kumara Mangalam Birla Committee on Corporate Governance constituted by SEBI. Explanations have been given regarding the reasons for non-compliance if any. The Corporate Governance Report is included in this Annual Report. The auditor's certificate on compliance is annexed to this report.

Directors

During the year Sri A Srihari and Sri S.Senraj Muthaiah retire by rotation and being eligible: offer themselves for re-appointment.

Directors Responsibility Statement. In terms of 217(2AA) of the Companies Act. 1956. your Directors state that

1. Applicable Accounting Standards have been followed, in the preparation of annual accounts.

2. Such Accounting policies had been selected and consistently applied and that they 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 the end of the financial year, and of the company for the year

3. Proper and sufficient care had been taken for the maintenance of adequate accounting records in accordance with the provisions of this Act for safe guarding the assets of the company and for preventing and detecting fraud and other irregularities. -

4. The Annual Accounts for the Company have been prepared on a going concern basis.

Auditors

The Company's Auditors M/s. P. Srinivasan & Co. Chartered Accountants, retire at the conclusion of the ensuing Annual General Meeting and are eligible for re- appointment.

Conservation of energy, technology absorption and foreign exchange earnings outgo.

There are no particulars to be furnished as the company is yet to commence commercial operation..

Particulars of Employees

The company has no employee drawing salary exceeding the specified limit of Rs.24.00 lacs per annum or Rs. 2.00 lacs per month, to be furnished as required under section 217(2A) of the companies Act, 1956 read with the companies (Particulars of Employees) Rules 1975.

Appreciation

Your directors wish to thank the company's bankers for their continued support. The Directors also take this opportunity to thank the fraternity of shareholders for their continued confidence reposed in the management of the company.

Your Directors thank the various departments of the State and Central Governments and look forward to their continued support in the future.

For and on behalf of the Board

Secunderabad P. SeethaLakshmi C.Pitchandi

August 1,2010 Director Managing Director


Mar 31, 2009

The Directors present the Fifteenth Annual Report of the Company together with the Audited Accounts for the year ended 31 March 2009.

Financial Results

During the Year. the company started its operations on software and data processing operations with the following results.

Income earned 5,43,755

Net profit before Taxes 92,859

Net profit after Taxes 62,606

Since the floriculture activity Is not having very good prospects your directors are continuing the Agro based activity and have disposed off part of the surplus land.

Corporate Governance

Your Company has complied with the recommendations of the Kumar Mangalam Birla Committee on Corporate Governance constituted by SEBI. Explanations have been given regarding the reasons for non-compliance If any. The Corporate Governance Report Is Included In this Annual Report. The auditor's certificate on compliance is annexed to this report.

Directors

During the year Mrs. P, Seetha Lakshmi retires by rotation and being eligible: offers herself for reappointment. During the year Mrs. D. Surekha retires by rotation and being eligible offers herself for re-appointment

Directors Responsibility Statement. In terms of 217(2AA) of the Companies Act.1956. your Directors state that

1. Applicable Accounting Standards have been followed, in the preparation of annual accounts.

2. Such Accounting policies had been selected and consistently applied and that they 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 the end of the financial year, and of the company for the year.

3. Proper and sufficient care had been taken for the maintenance of adequate accounting records In accordance with the provisions of this Act for safe guarding the assets of the company and for preventing and detecting fraud and other irregularities.

4. The Annual Accounts for the Company have been prepared on a going concern basis.

Auditors

The Company's Auditors M/s. P. Srivasan & Co. Chartered Accountants, retire at the conclusion of the ensuing Annual General Meeting and are eligible for re- appointment,

T-anservation of energy, technology absorption and foreign exchange earnings outgo.

There are no particulars to be furnished as the company Is yet to commence commercial operation..

Particulars of Employees

The company has no employee drawing salary exceeding the specified limit of Rs.24.00 lacs per annum or Rs. 2.00 lacs per month, to be furnished as required under section 217(2A) of the companies Act, 1956 read with the .companies (Particulars of Employees) Rules 1975.

Appreciation

Your directors wish' to thank the company's bankers for their continued support. The Directors also take this opportunity to thank the fraternity of shareholders for their continued confidence reposed In the management of the company. Your Directors thank the various departments of the State and Central Governments and look forward to their continued support in the future.

For and on behalf of the Board

Secunderabad P. SeethaLakshmi C. Pitchandi

August 1,2009 Director Managing Director

 
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