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Directors Report of ST Services Ltd.

Mar 31, 2015

Dear Members,

On behalf of the Board of Directors, it is our pleasure to present the 26th Annual Report together with the Audited Statement of Accounts of S T Services Limited ("the Company") for the year ended March 31st, 2015.

FINANCIAL PERFORMANCE (Standalone)

(Amoun in Rupees)

Financial Statements Standalone

31/O3/2015 31/03/2014

Total Income 2004184 1577557

Profit/(loss) before Depreciation & Taxation 258944 188739

Depreciation 158696 86117

Profit before taxation 100248 102622

Provision for Income Tax 55138 31498

Provision for Deferred Tax (28371) 1472

Net Profit/(Loss) After Tax 73481 71124

Less: Contingent Provision against Standard Assets. (7904) (3282)

Less: Earlier Year Depreciation (3982) -

Profit/(Loss) brought forward from previous year 493062 1438219

Profit available for appropriation 1554657 1506062

Less: transferred to special reserve. (14700) (13000)

Profit/(Loss) carried to Balance Sheet 1539957 1493062

Reserve & Surplus

The balance of Reserve & Surplus, as at 31st March, 2015 stand at Rs.1976182/- after making appropriations indicated above.

Summary of Operations

The Company is a Non Banking Financial Company and engaged in advancing of Loans and Investments in shares and securities. The Company is also exploring other business opportunities such as Infrastructure & Real Estate. During the year, total revenue of your Company increased by 27.04 %, from Rs 1577557/- to Rs. 2004184/-. Your Directors are hopeful to achieve better results in future.

Dividend

With the view to conserve the resources of the Company, the Directors are not recommending any dividend.

Listing of Shares of the Company

The shares of the Company is listed at Calcutta, Ahmedabad and Jaipur Stock Exchanges. During the year the Company has got its shares Listed at Bombay Stock Exchange.

Change in Nature of Business

There was no change in the nature of business of the Company.

Material Changes and Commitments

No material changes and commitments affecting the financial position of the Company occurred between the end of Financial Year to which the Balance Sheet relates on the date of this report.

There was no significant and material orders passed by the regulators or courts or tribunals impacting the Going Concern status and Company's operations in future

Company Secretary

Mrs. Shweta Almal Company Secretary has been appointed as Company Secretary and Compliance officer of the Company w.e.f. 26th of June, 2014 at a remuneration mutually decided between her and the Board.

Internal Financial Control

The Company has in place adequate internal control systems and procedures commensurate with the size and nature of the business. These systems and procedures provide reasonable assurance of maintenance of proper accounting records, reliability of financial information, protection of resources and safeguarding of assets against unauthorized use.

Share Capital / Finance

Your Company has not issued any Equity Shares or shares with differential rights/ Employee Stock Option Plan/ Sweat Equity Shares during the year.

Extract of Annual Return

Pursuant to section 92(3) of the Companies Act, 2013 ('the Act') and rule 12(1) of the Companies (Management and Administration) Rules, 2014, extract of annual return is Annexed as Annexure 1.

Directors' Responsibility Statement

Pursuant to the requirement clause (c) of sub-section (3) of Section 134 of the Companies Act, 2013, your Directors confirm that :

(a) In the preparation of the annual accounts, 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 at the end of the financial year and of the profit and 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 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; and

(e) 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.

(f) 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.

Statutory Auditors, their Report and Notes to Financial Statements

In the last AGM held on 30th September, 2014, M/s. S Jaykishan, Chartered Accountants have been appointed Statutory Auditors of the Company for a period of 5 years. Ratification of appointment of Statutory Auditors is being sought from the members of the Company at the ensuing AGM.

Further, the report of the Statutory Auditors along with notes to Schedules is enclosed to this report. The observations made in the Auditors' Report are self-explanatory and therefore do not call for any further comments.

Meetings

Details of the various meetings held during the financial year 2014-15 is been given in the Corporate Governance Report.

Corporate Governance Report

Your Company recognizes the importance of good Corporate Governance in building shareholders confidence, improving investor protection and enhancing Long-term enterprise value. A report on Corporate Governance is annexed.

CEO/CFO Certification

The Chief Financial Officer of the Company has submitted a certificate to the Board as required under Clause-49 of the Listing Agreement for the year ended 31-03-2015.

Secretarial Audit

In terms of Section 204 of the Act and Rules made there under, M/s. Anurag Fatehpuria (Membership No: A34471), a Practicing Company Secretary (COP No: 12855) have been appointed as Secretarial Auditors of the Company. The report of the Secretarial Auditors is enclosed as Annexure 2 to this report. The report is self-explanatory and do not call for any further comments.

Particulars of Loans, Guarantees or Investments under sec-186 of Companies Act, 2013

a) Details of Loans and Advances Given (Unsecured):(Provided for Business Purposes)

Name of the Borrower Amount

Haryana Steel Supply Co. Pvt. Ltd. 3609686

Hello Exim Pvt. Ltd. 8284

Metal Engg. & Treatment Co. Pvt. Ltd. 3601000

Metanpart 554000

Mohit Paper Mills Ltd. 2654163

Mohit Petrochemicals Ltd. 56365

Neomet Consultants Pvt. Ltd. 1108000

Stahlmet Casting Pvt. Ltd. 1218800

Reform Flour Mills Pvt. Ltd. 2531808

Ramesh Chandra Juneja 1800000

b) Details of Investments :

The details of the Investments made by the Company, is given in the notes to the Financial Statements.

Related party transactions

The Company has not entered into any transactions with the Related Parties during the year.

Risk Management Policy

Pursuant to section 134(3)(n) of the Companies Act, 2013, the Company has adopted a Risk Management policy. The Board identifies some risks that may affect the business of your Company and segregate them in various categories. Based upon such categories Board has directed the management to adopt and follow certain preventive steps. Board reviews the Risks periodically.

Vigil Mechanism Policy

The Board has adopted a whistle blower policy for the Company. The policy is formulated to provide opportunity to all the employees to access in good faith, to the Audit Committee of the Company, in case they observe any unethical and improper practice or behavior or wrongful conduct in the Company.

Declaration by independent directors

The Independent Directors have submitted their declaration of independence, as per the Companies Act, 2013 to the Board.

Corporate Social Responsibility

The Companies (Corporate Social Responsibility Policy) Rule, 2014 is not applicable to the Company.

Directors and Key Managerial Personnel

Mr. Sushanta Mondal (DIN:00013059) and Mr. Shiv Kumar Jaria (DIN:01082212), Directors retire by rotation at the forthcoming Annual General Meeting and being eligible, offer themselves for reappointment.

During the year, Mr. Sushanta Mondal (DIN: 00013059), Mr. Nikhil Patodia (DIN: 01082242) and Shiv Kumar Jaria (DIN: 01082212) have been appointed as an Independent Directors for term of 5 years.

Formal Annual Evaluation

The Board has adopted a policy for evaluation of itself along with all its committees and all the directors individually. Based on such policy, the Board in its first Board Meeting held after the financial year 2014-15, performed an evaluation of its own working of all its committees and personal evaluation of Directors.

Transfer of Amounts to Investor Education and Protection Fund

There were no funds which were required to be transferred to Investor Education and Protection Fund (IEPF).

Public Deposits

Your Company has not accepted any deposits from public in terms of Section 73 of the Companies Act, 2013 and the Companies (Acceptance of Deposits Rules), 2014.

Particulars of Employees (Managerial Remuneration)

The information required pursuant to sec-197 read with Rule 5 of The Companies Appointment and Remuneration of Managerial Personnel) Rules, 2014

The ratio of remuneration of median employee to that of the Managing Director and Company Secretary are 1:1 and 1:1 respectively. No other directors get any remuneration from the Company.

Energy, technology absorption, foreign exchange earnings and outgo

The nature of the Company's business does not require involving any type of energy consumption or adaptation of any technology.

The particulars required to be furnished under Rule 8 of the Companies (accounts) Rules, 2014 :

i) Part A and B pertaining to conservation of energy and technology absorption are not applicable to the Company.

ii) Foreign Exchange earnings and outgo are as under:

Earnings : Rs. Nil

Outgo : Rs. Nil

Acknowledgement

Your Directors would like to express their sincere appreciation of the cooperation assistance received from everyone related to the Company during the year under review.

For and on behalf of the Board S T SERVICES LIMITED

SD/- (Managing Director) Date : 28-05-2015 (DIN: 00556652) Place : Kolkata










Mar 31, 2014

Dear Members,

The Directors of S T Services Limited have the pleasure in presenting before you the 25th Annual Report together with Audited Statement of Accounts of the Company for the year ended 31st March, 2014.

FINANCIAL HIGHLIGHTS

The highlights of the year''s operation with a comparison to last year are, as follows :—

(Amount in Rupees) Particulars 2013-2014 2012-2013

Sales & Other Income 1577557 1878185

Profit before Depreciation & Taxation 188739 114240

Less: Depreciation 86117 28656

Profit before Taxation 102622 85584

Provision for Taxation (32970) (18491)

Provision for Deferred Tax 1472 (7744)

Profit after Taxation 71124 59349

Less : Contingent Provisions against Standard Assets (3282) 30916

Less: Provision for tax for earlier year — 10038

Add: Balance of Profit transferred from Last year 1438219 1369992

Profit available for appropriation 1506062 1450219

Transfer to Special Reserve (13000) (12000)

Surplus Carried Forward to Balance Sheet 1493062 1438219

DIVIDEND

With a view to consolidate the financial position of the Company, your Directors recommend to retain the profits as reserve.

OPERATIONS

The Company has been able to earn a reasonable profit from its operations. Steps are being taken for further improvement.

LISTING OF SHARES OF THE COMPANY

The shares of the Company are listed in Kolkata, Ahmedabad and Jaipur Stock Exchanges. The Annual listing Fees have been paid to the above mentioned Stock Exchanges regularly. The Company has applied for listing on Bombay Stock Exchange and the company is hoping to get the shares listed on BSE within 6 months from now.

DIRECTORS

Mr. Goutam Kumar Mondal (DIN No. 00556652) has been appointment as Managing Director of the Company w.e.f. 30th May, 2014 for a period of 5(five) years.

In accordance with the provisions of the Companies Act, 2013 and the Company''s Articles of Association, Mr. Shiv Kumar Jaria (DIN : 01082212) a Director of the Company retires by rotation and being eligible offers himself for re-appointment.

STATUTORY INFORMATION

1. Conservation of Energy, Technology absorption, Foreign Exchange Earning and outgo

i) The Company has no activities relating to conservation of energy or technology absorption hence this part of Section 217(i)(e) of the Companies Act, 1956 are not applicable to the Company.

ii) Foreign Exchange Earnings Rs. Nil

iii) Foreign Exchange Outgo Rs. 171274 (Travelling Expenses)

2 Particular''s of Employees

The Company has not paid any remuneration attracting the provisions of Companies (Particulars of Employees) Rules, 1975 read with Section 217 (2A) of the Companies Act, 1956. Hence, no information is required to be appended to this report in this regard.

3 Public Deposits

The Company has not invited/accepted any public deposits within the meaning of Section 58A of the Companies Act, 1956 from the public during the year, as such no amount of Principal or interest was outstanding on the date of the Balance Sheet.

AUDITORS

M/s S. Jaykishan, Chartered Accountants, having Firm Registration No. 309005E, who are Statutory Auditors of the Company hold office till the conclusion of the ensuing Annual General Meeting(AGM) and are eligible for re-appointment. Pursuant to the provisions of section 139 of the Companies Act, 2013 and the Rules framed there under, it is proposed to appoint M/s S. Jaykishan, as Statutory Auditors of the Company from the conclusion of the ensuing AGM till the conclusion of the Thirtieth AGM to be held in the year 2019, subject to ratification by the members for their appointment at every AGM.

The Company has received a certificate from M/s S. Jaykishan to the effect that their re-appointment, if made, would be in accordance with the provisions of section 141 of the Companies Act, 2013 and that they are not disqualified from being eligible for reappointed as auditors.

The Notes to the Accounts referred to in the Auditors Report are self explanatory and therefore, do not call for any further explanations.

SECRETARIAL AUDIT REPORT

The Companies Act, 2013 has mandated every listed public company to have secretarial audit conducted by practicing Company Secretary, Necessary proposal has been included in the agenda of the Notice for approval of the members.

CORPORATE GOVERNANCE

The report on Corporate Governance as prescribed by the Listing Agreement is annexed and forms a part of the Annual Report. The Auditors Certificate on compliance of the provisions of Corporate Governance as mentioned in the Listing Agreement is also attached.

CEO/CFO CERTIFICATION

The Chief Financial Officer of the Company has submitted a certificate to the Board as required under clause 49 of the Listing Agreement for the year ended 31.03.2014.

DIRECTORS'' RESPONSIBILITY STATEMENT

In pursuance of the provisions of section 217(2AA) of the Companies Act, 1956, your Directors make the following statement :—

1. That in the preparation of the Annual Accounts, the applicable Accounting Standards have been followed and there were no material departures from prescribed accounting standards;

2. That the Board have 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 at the end of the financial year and of the profit or loss of the Company for that period.

3. That they 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; and

4. That they have prepared the Annual Accounts on going concern basis.

COMPANY SECRETARY

The Company is in process of appointing Company Secretary for the Company and the same is expected to take effect within a months time.

INTERNAL CONTROL SYSTEMS

The Company has in place adequate internal control systems and procedures commensurate with the size and nature of the business. These systems and procedures provide reasonable assurance of maintenance of proper accounting records, reliability of financial information, protection of resources and safeguarding of assets against unauthorized use.

RBI GUIDELINES FOR NON BANKING FINANCIAL COMPANIES

The company has observed all the prudential norms prescribed by the Reserve Bank of India. The Schedule as required in terms of Paragraph 9BB of Non- Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 2008 is annexed herewith.

E-VOTING

With regard to the manner and other requirements of extending the e-voting facility to shareholders and that the ministry of Company Affairs has made the aforesaid Rules, non-mandatory till December 31,2014, we are not extending the e-voting facility at our ensuing Annual General Meeting scheduled on Tuesday 30th September, 2014.

ACKNOWLEDGEMENT

Your Directors place on record their appreciation of the assistance and support extended by the Company''s Clients, Bankers, other Governments Agencies and Investors. The Board also expresses their gratitude to Employees, Financial Advisors and the Shareholders of the Company for their continuing support and co-operation in various activities of the Company.

On behalf of the Board

Registered office: 92B, Chittaranjan Avenue, 2nd Floor, SD/- Kolkata - 700 012 Goutam Kr. Mondal Chairman Dated : The 30th Day of May, 2014.


Mar 31, 2013

Dear Members,

The Directors of S T Services Limited have pleasure in presenting the 24th Annual Report together with Audited Statement of Accounts of the Company for the year ended 31st March, 2013.

FINANCIAL HIGHLIGHTS

The highlights of the year''s operation with a comparison to last year are, as follows:-

Particulars 2012-2013 2011-2012

Sales & Other Income 1878185 1920419

Profit before Depreciation & Taxation 114240 91618

Less: Depreciation 28656 16370

Profit before Taxation 85584 75248

Provision for Taxation (18491) (24766)

Provision for Deferred Tax (7744) 1725

Profit after Taxation 59349 52207

Add: Contingent Provisions against Standard Assets 30916 (4184)

Less: Provision for tax for earlier year 10038 -- Add: Balance of Profit transferred from Last year 1369992 1336969

Profit available for appropriation 1450219 1384992

Transfer to Special Reserve (12000) (15000)

Surplus Carried Forward to Balance Sheet 1438219 1369992

DIVIDEND

With a view to consolidate the financial position of the Company, your Directors recommend to retain the profits as reserve.

OPERATIONS

The Company has been able to earn a reasonable profit from its operations. Steps are being taken for further improvement.

LISTING OF SHARES OF THE COMPANY

The shares of the Company are listed in Kolkata, Ahmedabad and Jaipur Stock Exchanges. The Annual listing Fees have been paid to the above mentioned Stock Exchanges regularly.

DIRECTORS

Mr. Sushanta Mondal retires by rotation in terms of Article 89 of Articles of Association of the Company and being eligible, offers himself for re-appointment.

STATUTORY INFORMATION

1. Conservation of Energy, Technology absorption, Foreign Exchange Earning and outgo

i) The Company has no activities relating to conservation of energy or technology absorption hence this part of Section 217(i) (e) of the Companies Act, 1956 is not applicable to the Company.

ii) Foreign Exchange Earnings Rs. Nil

iii) Foreign Exchange Outgo Rs. Nil

2 Particular''s of Employees

The Company has not paid any remuneration attracting the provisions of Companies (Particulars of Employees) Rules, 1975 read with Section 217 (2A) of the Companies Act, 1956. Hence, no information is required to be appended to this report in this regard.

3 Public Deposits

The Company has not invited/accepted any public deposits within the meaning of Section 58A of the Companies Act, 1956 from the public during the year, as such no amount of Principal or interest was outstanding on the date of the Balance Sheet.

AUDITORS

M/s S. Jaykishan, Chartered Accountants, retires at the conclusion ensuing annual general meeting and being eligible, offer them-selves for re-appointment. Members are requested to appoint the auditors and fix the remuneration payable to them.

The Notes to the Accounts referred to in the Auditors Report are self explanatory and therefore, do not call for any further explanations under Section 217(3) of the Companies Act, 1956.

CORPORATE GOVERNANCE

The report on Corporate Governance as prescribed by the Listing Agreement is annexed and forms a part of the Annual Report. The Auditors Certificate on compliance of the provisions of Corporate Governance as mentioned in the Listing Agreement is also attached.

CEO/CFO CERTIFICATION

The Chief Financial Officer of the Company has submitted a certificate to the Board as required under clause 49 of the Listing Agreement for the year ended 31.03.2013.

DIRECTORS'' RESPONSIBILITY STATEMENT

In pursuance of the provisions of section 217(2AA) of the Companies Act, 1956, your Directors make the following statement:-

1. That in the preparation of the Annual Accounts, the applicable Accounting Standards have been followed and there were no material departures from prescribed accounting standards;

2. That the Board have 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 at the end of the financial year and of the profit or loss of the Company for that period.

3. That they 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; and

4. That they have prepared the Annual Accounts ongoing concern basis.

COMPLIANCE CERTIFICATE

For the purpose of Section 383A (1) of the Companies Act, 1956 the Compliance Certificate attached herewith is self- explanatory and do not call for any further clarifications from the Board.

INTERNAL CONTROL SYSTEMS

The Company has in place adequate internal control systems and procedures commensurate with the size and nature of the business. These systems and procedures provide reasonable assurance of maintenance of proper accounting records, reliability of financial information, protection of resources and safeguarding of assets against unauthorized use.

RBI GUIDELINES FOR NON BANKING FINANCIAL COMPANIES

The company has observed all the prudential norms prescribed by the Reserve Bank of India. The Schedule as required in terms of Paragraph 9BB of Non-Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 2008 is annexed herewith.

ACKNOWLEDGEMENT

Your Directors place on record their appreciation of the assistance and support extended by the Company''s Clients, Bankers, other Governments Agencies and Investors. The Board also expresses their gratitude to Employees, Financial Advisors and the Shareholders of the Company for their continuing support and co-operation in various activities of the Company.

On behalf of the Board

Registered office: 92B, Chittaranjan Avenue, 2nd Floor, SD/- Kolkata - 700 012 Goutam Kr. Mondal Chairman Dated: The 27th Day of August, 2013


Mar 31, 2012

Dear Members,

The Directors of S.T. Services Limited have pleasure in presenting the 23rd Annual Report together with Audited Statement of Accounts of the Company for the year ended 31st March, 2012.

FINANCIAL HIGHLIGHTS:

The highlights of the year''s operation with a comparison to last year are as follows

Particulars 2011-2012 2010-2011

Sales & oter Income 1920419 2184024

Profit before Depreciation £ Taxation 85618 120305

Less: Depreciation 16370 18020

Profit before Taxation 75248 102285

Provision for Taxation 24766 34345

Provision for Deferred Tax (1725) (2953)

Profit after Taxation 52207 70893

Less: Contingent Provisionsnst (4184) (58401) Standard Assets Less: Provision for tax for earlier year __ (3640)

Add: Balance of Profit transferred from 1336969 1348117 Last year

Profit available for appropriation 1384992 1356969

Transfer to Special Reserve 15000 20000

Surplus Carried Forward to Balance Sheet 1369992 1336969

DIVIDEND

With a view to consolidate the financial position of the Company, your Directors recommend to retain the profits as reserve.

OPERATIONS

The Company has been able to earn a reasonable profit from its operations. Steps are being taken for further improvement.

LISTING OP SHARES OF THE COMPANY

The shares of the Company are listed in Kolkata, Ahmedabad and Jaipur Stock Exchanges. The Annual listing Fees have been paid to the above mentioned Stock -Exchanges regularly.

DIRECTORS

Mr. Nikhil Patodia retires by rotation in terms of Article 89 of Articles of Association of the Company and being eligible, offers himself for re-appointment.

STATUTORY INFORMATION

1. Conservation of Energy, Technology absorption, Foreign Exchange Earning and outgo i) The Company has no activities relating to conservation ofenergy or technology absorption hence this part of Section 217(i)(e) ofthe Companies Act, 1956 are not applicable to the Company. ii) Foreign Exchanege earnings Rs. Nil iii) Foreign Exchange outgo Rs. Nil

2 Particular''s of Employees

The Company ''has not paid any remuneration attracting the provisions of Companies (Particulars of Employees) Rules, 1975 read with Section 217 (2A) of the Companies Act, 1956. Hence, no information is required to be appended to this report in this regard.

3 Public Deposits

The Company has not invited/accepted any public deposit''s within the meaning of Section 58A of the Companies Act, 1956 from the public during the year, as such no amount of Principal or interest was outstanding on the date of the Balance Sheet.

AUDITORS

M/s S. Jaykishan, Chartered Accountants, retires at the conclusion ensuing annual general meeting and being eligible, offer them-selves for re-appointment. Members are requested to appoint the auditors and fix the remuneration payable to them. The Notes to the Accounts referred to in the Auditors Report are seif explanatory and therefore, do not call for any further explanations under Section 217(3) of the Companies Act, 1956.

CORPORATE GOVERNANCE

The report on Corporate Governance as prescribed by the Listing Agreement is annexed and forms a part of the Annual Report. The Auditors Certificate on compliance of the provisions of Corporate Governance as mentioned in the Listing Agreement is also attached.

CEO/CFO CERTIFICATION

The Chief Financial Officer of the Company ha3 submitted a certificate to the Board as required under clause 49 of the Listing Agreement for the year ended 31.03.2012.

DIRECTORS'' RESPONSIBILITY STATEMENT

In pursuance of the provisions of section 217(2AA) of the Companies Act, 1956, your Directors make the following statement:-

1. That in the preparation of the Annual Accounts, the applicable Accounting Standards have been followed and there were no materia- departures from prescribed accounting standards;

2. That the Board have 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 at the end of the financial year and of the profit or loss of the Company for that period.

3. That they 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; and

4. That they have prepared the Annual Accounts ongoing concern basis.

COMPLIANCE CERTIFICATE

For the purpose of Section 383A(1) of the Companies Act, 1956 the Compilance Certificate attached herewith is self-explanatory and do not call for any further clarifications from the Board.

INTERNAL CONTROL SYSTEMS

The Company has in place adequate internal control systems and procedures commensurate with the size and nature of the business. These systems and procedures provide reasonable assurance of maintenance of proper accounting records, reliability of financial information, protection of resources and safeguarding of assets against unauthorized use.

RBI GUIDELINES FOR NON BANKING FINANCIAL COMPANIES

The company has observed all the prudential norms prescribed by the Reserve Bank of India. The Schedule as required in terms of Paragraph 9BB of Non-Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 2008 is annexed herewith.

ACKNOWLEDGEMENT

Your Directors place on record their appreciation of the assistance and support extended by the Company''s Clients, Bankers, other Governments Agencies and Investors. The Board also expresses their gratitude to Employees, Financial Advisors and the Shareholders of the Company for their continuing support and co-operation in various activities of the Company. On behalf of the Board

Registered office: 92B, Chittaranjan Avenue, 2nd Floor, SD/- Kolkata - 700 012 Goutam Kr. Mondal Chairman Dated: The 27th Day of August, 2012


Mar 31, 2011

Dear Members,

The Directors of S.T Services Limited have pleasure In presenting the 22nd Annual Report together with Audited Statement of Accounts of the Company for the year ended 31st March 2011

FINANCIAL HIGHLIGHTS

The highlights of the year''s operation with a comparison to last year are as follows -

Particulars 2010-2011 2009-2010

Sales & Other Income 2187S69 2620313

Profit before Depreciation 233250 114341 & Taxation

Less: Depreciation 18020 10775

Profit before Taxation 102285 103566

Provision for Taxation 34345 33897

Provision for Deferred Tax (2953) (1177)

Profit after Taxation 70893 70846

Less: Contingent Provisions against Standard Assets (58401) -

Less: Provision for tax for earlier year (3640) 157

Add Balance of Profit transferred from Last year 1348118 1297115

Profit available for appropriation 1356969 1368118

Transfer to Special Reserve 20000 20000

Surplus Carried Forward to Balance Sheet 1336969 1348118

DIVIDEND

With a view to consolidate the financial position of the Company, your Directors recommend to retain the profits as reserve

OPERATIONS

The Company has been able to earn a reasonable profit from Its operations Steps are being taken for further improvement.

LISTING OF SHARES OF THE COMPANY

The shares of the Company are listed in Kolkata, Ahmedabad and Jaipur Stock Exchanges The Annual listing Fees have been paid to the above mentioned Stock Exchanges regularly

DIRECTORS

Mr Shiv Kumar Jana Mondal retires by rotation in terms of Article 89 of Articles of Association of the Company and being eligible, offers himself for re-appointment.

STATUTORY INFORMATION

1 Conservation of Energy. Technology absorption Foreign Exchange Earning and outgo

i) The Company has no activities relating to conservation of energy or technology absorption hence this part of Section 217(i)(e) of the Companies Act, 1956 are not applicable to the Company

ii) Foreign Exchange Earnings Rs. Nil

Foreign Exchange outgo Rs. Nil

2 Particular’s of Employees

The Company has not paid any remuneration attracting the provisions of Companies (Particulars of Employees) Rules, 1975 read with Section 217 (2A) of the Companies Act, 1956 Hence. no information is required to bo appended to this report in this regard.

3 Public Deposits

The Company has not invited/accepted any public deposits within the meaning of Section 58A of the Companies Act, 1956 from the public during the year, as such no amount of Principal or interest was outstanding on the date of the Balance Sheet.

AUDITORS

M/s S Jaykishan Chartered Accountants retires at the conclusion ensuing annual general meeting and being eligible . offer themselves for re-appointment. Members are requested to appoint the auditors and fix the remuneration payable to them

The Notes to the Accounts referred to in the Auditors Report are self explanatory and therefore, do not call for any further explanations under Section 217(3) of the Companies Act, 1956

CORPORATE GOVERNANCE

The report on Corporate Governance as prescribed by the Listing Agreement is annexed and forms a part of the Annual Report. The Auditors Certificate on compliance of the provisions of Corporate Governance as mentioned in the Listing Agreement is also attached

CEO/CFO CERTIFICATION

The Chief Financial Officer of the Company has submitted a certificate to the Board as required under clause 49 of the Listing Agreement for the year ended 31.03.2011

DIRECTORS'' RESPONSIBILITY STATEMENT

In pursuance of the provisions of section 217(2AA) of the Companies Act, 1956. your Directors make the following statement:-

1 That in the preparation of the Annual Accounts the applicable Accounting Standards have been

followed and there were no material departures from prescribed accounting standards

2 That the Board have selected 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 or loss of the Company for that period

3. That they 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. and

4 That they have prepared the Annual Accounts on going concern basis.

COMPLIANCE CERTIFICATE

For the purpose of Section 383A(1) of the Companies Act 1956 the Compliance Certificate attached herewith is self-explanatory and do not call for any further clarifications from the Board.

INTERNAL CONTROL SYSTEMS

The Company has in place adequate internal control systems and procedures commensurate with the size and nature of the business These systems and procedures provide reasonable assurance of maintenance of proper accounting records, reliability of financial information protection of resources and safeguarding of assets against unauthorized use.

RBI GUIDELINES FOR NON BANKING FINANCIAL COMPANIES

The Company has observed all the prudential norms prescribed by the Reserve Bank of India The Schedule as required in terms of Paragraph 9BB of Non-Banking Financial Companies Prudential Norms (Reserve Bank) Directions. 2008 is annexed herewith.

ACKNOWLEDGEMENT

Your Directors place on record their appreciation of the assistance and support extended by the Company''s Clients, Bankers other Governments Agencies and Investors The Board also expresses their gratitude to Employees Financial Advisors and the Shareholders of the Company for their continuing support and co-operation in various activities of the Company.

On behalf of the Board

Registered office: 92B. Chittaranjan Avenue. 2nd Floor, SD/- Kolkata - 700 012 Goutam Kumar Mondal Chairman

Dated: The 26th Day of August. 2011

 
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