Mar 31, 2014
Dear Members,
The Directors have pleasure in presenting 27th Annual Reports of your
Company together with the Audited Accounts for the year ended on 31st
March, 2014.
FINANCIAL RESULTS (Rs. in Lakh)
Particulars Currentt Year Previous Year
(2013-2014) (2012-2013)
Gross Income 15.91 14.47
Expenditure 11.25 11.92
Profit/ (Loss) Before Depreciation & Tax 4.66 2.77
Depreciation 0.20 0.21
Provision for Deferred Tax (MAT)/Tax 4.59 0.23
Profit/ (Loss) for the Year (0.13) 2.33
Balance brought forward from the
Previous Year (28.69) (30.56)
APPROPRIATION
Transferred to RBI Reserve Fund 0.00 0.47
Balance Carried Forward (28.82) (28.69)
DIVIDEND
In view of the accumulated losses of the Company, your Directors do not
recommend any dividend for the year ended 31st March, 2014.
OPERATIONS AND FUTURE PROSPECTS
This financial year of the company has continued to be a struggling
period to consolidate its portfolio for increasing the revenue but
desired results could not be achieved in view of the adverse market
conditions. Management is optimistic about better results in the future
in view of the regaining economic momentum and growth of Indian
economy.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
Please refer to Annexure ''A'' of this report.
AUDITORS & THEIR REPORT
M/s Tiwari & Associates, Chartered Accountants retire as Auditors of
the Company at the ensuing Annual General Meeting and being eligible,
offer themselves for re-appointment. The company has received a letter
from them that their reappointment, if made, would be within the
provisions prescribed u/s 139 of the Companies Act, 2013. Your
directors and Audit Committee recommend their appointment as Statutory
Auditors for another one year.
Auditors'' Report is self-explanatory and required no comments by the
Directors.
DIRCTORS
Shri Kapoor Chand Gupta, Director retires by rotation at the ensuing
Annual General Meeting and being eligible, offer himself for
re-appointment. The directors recommend his reappointment.
CORPORATE GOVERNANCE
The Company has complied with the mandatory provisions of Corporate
Governance as prescribed in the Listing Agreement. A Separate report on
Corporate Governance is included as a part of the Annual Report.
Certificate from the auditors of the Company M/s Tiwari & Associates
confirming compliance of conditions of Corporate Governance as
stipulated of under the clause 49 of Listing Agreement is annexed to
this report as annexure "B"
PARTICULARS OF EMPLOYEES INFORMATION IN ACCORDANCE WITH SECTION 217(2A)
OF THE COMPANIES ACT 1956 WITH COMPANIES (PARTICULARS OF EMPLOYEES)
RULES 1975
During the year under review, no employees, whether employed for the
whole or part of the year, was drawing remuneration exceeding the
limits as laid down under section 217 (2A) of the Companies Act, 1956,
read with Companies (Particulars of Employees) Rules, 1975 as amended.
Hence the details required under Section 217 (2A) are not given.
DEPOSITS
As on March 31, 2014 no deposit from public have been accepted or
renewed by the I Company.
CONSERVATION OF ENERGY
The company is not engaged in any activity relating to conservation of
energy and technology.
FOREIGN EXCHANGE EARNINGS AND OUTGO
There are no foreign exchange earning & outgo during the financial year
under review.
DIRECTORS'' RESPONSIBILITY STATEMENT
Pursuant to Section 217( 2AA) of the Companies Act, 1956 as introduced
by Companies (Amendment) Act, 2000, the Directors confirm that:
* In the preparation of the annual accounts, the applicable accounting
standards have been followed;
* Appropriate accounting policies have been selected and applied
consistently, and judgments and estimates made are reasonable and
prudent so as to give a true and fair view of the state of affairs of
the Company as at 31st March, 2014 and of the profits of the Company
for the year ended 31st March, 2014
* Proper and sufficient care has been taken for the maintenance of
adequate accounting records in accordance with the provisions of the
Companies Act, 1956 for safeguarding the assets of the Company and for
preventing and detecting fraud and other irregularities.
* The annual accounts have been prepared on a going concern basis.
COMPLIANCE CERTIFICATES
The company has obtained Compliance Certificate from Practicing
Secretary as required under provision to Section 383A(1) of the
Companies Act,1956
ACKNOWLEDGEMENT
Your directors are pleased to place on record their sincere thanks to
the Reserve Bank of India, Bankers, stock exchange, customers and share
holders of the company for their continued and valuable co-operation
and support to the Company.
Your Directors also express their appreciation for the hard work and
sincere services rendered by employees at all level during the year.
Place : New Delhi By order of the Board of Directors
Dated : 5th September 2014 Standard Capital Markets Limited
Durga Prasad Sharma Narender K. Arora
Director Managing Director
Mar 31, 2010
The Directors are pleased to present the 23rd Annual Report together
with the Audited Accounts of the Company for the year ended March 31st,
2010.
FINANCIAL RESULTS:
The Performance of the Company for the financial year ended March 31,
2010 is summarized below:
For the Year ended For the Year ended
31.03.2010 31.03.2009
(Rs. In Lacs) (Rs. In Lacs)
Gross Income 14.28 5.51
Expenditure 15.83 23.26
Profit /(Loss) Before Depreciation
& Tax (1.55) (17.75)
Depreciation 0.83 0.56
Provision for Tax 0.00 NIL
Profit/(Loss) for the Year (2.38) (18.31)
Balance brought forward from the
Prev. Year (92.26) (140.13)
APPROPRIATION
General Reserve NIL NIL
Prov. For Doubtful Debts Written Back 11.70 66.19
Prov. For Doubtful Investment
written back 10.00 NIL
Tfd to RBI Reserve Fund NIL NIL
Balance Carried Forward (72.94) (92.26)
DIVIDEND
In view of the accumulated losses of the company, your directors do not
recommend any dividend for the year ended 31st March, 2010.
AUDITORS
M/s Tiwari & Associates, Chartered Accountants, retire at the
conclusion of this Annual General Meeting and being eligible, offer
themselves for re-appointment. They have furnished a Certificate to the
effect that the proposed reappointment, if made, will be in accordance
with sub-section (1-B) of Section 224 of the Companies Act, 1956.
Members of the Company are requested to appoint the auditors for the
next year and fix up their remuneration.
AUDITORSREPORT
The observation made in the Auditors Report are self explanatory and
therefore, do not call for any further comment under section 217(3) of
the Companies Act, 1956.
OPERATIONS
The Directors of the company put in their hard efforts to bring the
financial operation on a satisfactory note. Your company suffered
financial loss during the year under report as compared to financial
loss during the previous year.
DIRECTORS
In accordance with the requirements of section 256 of the Companies
Act, 1956 and the articles of association of the company, Sh. Durga
Prasad Sharma, Director of the company retire by rotation at the
ensuing Annual General Meeting.
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to the requirement under Section 217 (2AA) of the Companies
Act, 1956, with respect to Directors Responsibility Statement, it is
hereby confirmed that:
a) in the preparation of annual accounts, the applicable accounting
standards have been followed and that there are no material departures
from the same;
b) the Directors 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 as at March 31,2010 and of the profit of the Company for
the year ended on that date;
c) 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 safeguarding the assets of
the Company and for preventing and detecting fraud and other
irregularities; and
d) the Directors have prepared the annual accounts of the Company on a
going concern basis.
CORPORATE GOVERNANCE
Report on Corporate Governance as stipulated under Clause 49 of the
Listing Agreement with the Stock Exchange in India forms part of the
Annual Report.
Certificate from the Auditors of the Company, M/s Tiwari & Associates,
confirming compliance of conditions of Corporate Governance as
stipulated under the aforesaid Clause 49, is annexed to this Report.
PARTICULARS OF EMPLOYEES
None of the companys employees, employed throughout the Financial year
under review, was in receipt of an aggregate remuneration of Rs.
24,00,000/- p.a. or more, Similarly no employees of the company,
employed for a part of the financial year, received remuneration @ Rs.
2,00,000/- p.m. or more. Hence the details required under section 217
(2A) of the Companies Act, 1956 read with the companies (Particulars of
Employees) Rules, 1975 is not given.
FIXED DEPOSITS:
The Company has not accepted any deposits from the public, within the
meaning of Section 58-A of the Companies Act, 1956 and the Companies
(Acceptance of Deposit) Rules, 1975 during the year under review.
ENERGY CONVERVATION, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNING
AND OUTGO:
Particulars under Companies (Disclosure of Particulars in the report of
Board of Directors) Rules 1988 on conservation of energy, technology
absorption and foreign exchange earnings and outgo are not applicable
to the company and hence no disclosure is being made in this report.
COMPLIANCE CERTIFICATE
The company has obtained Compliance Certificate from Practicing Company
Secretary as required under proviso to Section 383A (1) of the
Companies Act, 1956. The copy of the same has been annexed to this
report.
APPRECIATION:
Your Directors thanks our esteemed shareholders, customers, business
associates, Financial/Investment Institutions and Commercial Banks for
their faith reposed by them in your company and its management.
Your Directors placed on record their deep appreciation of dedication
and commitment of employees at all levels and look forward to their
continued support in the future as well.
The Board also acknowledges the faith reposed in the company by
lessees, investing public and Banks for their valuable assistance, and
look forward to their continued co-operation.
For and on behalf of the Board
SD/- SD/-
DURGA PRASAD SHARMA NARENDER K ARORA
(DIRECTOR) (DIRECTOR)
PLACE : NEW DELHI
DATE : 25.08.2010