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Directors Report of Stocknet International Ltd.

Mar 31, 2012

Dear Members,

The Directors have pleasure in presenting the Thirtieth Annual Report on the business and operations of your Company and the Audited Financial Results for the period ended 31st March 2012

Financial Results Y.E. 31.03.2012 Y.E. 31.03.2011

Profit /(Loss) before Tax 28705.97 (5928207.25)

Current Tax Expense for Current Year

Net Current Tax Expense - 1898.00

Deferred Tax - -

Profit /(Loss) for the year 28705.97 (5930105.25)

Dividend

In view of inadequate profit for the period under review, your Directors do not recommend any dividend.

Fixed Deposits

During the period under the review, the Company did not accept or invite any deposit from public under the provisions of section 58A of the Companies Act, 1956 and the Rules made thereunder and therefore the question of compliance or otherwise does not arise.

Directors

Pursuant to provision of Section 256 of the Companies Act,1956 Mr. N. K. Pal retires by rotation but being eligible offer himself for re-appointment.

Mr. Hiranand Jha was appointed an additional Director of the Company.

Mr. G. Taparia resigned from the office of the Directors of the Company and the same was notified to the Registrar of Companies u/s. 303 of the Companies Act 1956. Your directors wish to place on record their appreciation for the able and efficient manner in which services were rendered by Mr. G. Taparia during his association with the company in the office of Director.

Directors'' Responsibility Statement

In accordance with the requirements of Section 217 (2AA) of the Companies Act, 1956, your Directors wish to confirm the following:

i) that the applicable accounting standards have been followed in the preparation of the annual accounts;

ii) that 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 for the period 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 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

iv) that the Directors have prepared the accounts for the period ended 31.03.2012 on a going concern basis

Other Aspects

Provisions relating to Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo are not applicable to your Company.

Particulars of Employees

The particulars as required under Section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975, do not apply to your company as there was no employee drawing remuneration in excess of the amount prescribed under Section 217(2A) of the Companies Act, 1956 during the period ended 31st March, 2012.

Auditors & Auditors Report

The statutory Auditors of the Company M/s. Naushad Ahmed & Co., Chartered Accountants, Kolkata, hold office until the conclusion of the forthcoming Annual General Meeting of the company and being eligible offer themselves for reappointment.

Corporate Governance

The Auditors M/s. Naushad Ahmed & Co., have certified the Company''s compliance of the requirements of Corporate Governance in terms of clause 49 of the Listing Agreement. The said certificate together with the management''s discussion and analysis report, is attached which forms part of this report.

Acknowledgement

Your Directors wish to place on record their appreciation for the support of members of your company, the customers and constituents and the staff members of your company.

By order of the Board Sd/ R. C. Singh

(Director)

Place: Howrah Date: 22nd August 2012


Mar 31, 2011

To The Members,

The Directors have pleasure in presenting the Twenty Nine Annual Report on the business and operations of your Company and the Audited Financial Results for the period ended 31st March 2011.

Financial Results Y,E. 31.03.2011 Y.E. 31.03.2010

Operating Profit (PBIT) (5777175.00) 254198.00

Less: Depreciation & 151032.00 164003.00 Interest

Profits Loss) before tax (592820700) 90195.00

Less: Taxation 1898.00 8530.00

Less : Fringe Benefit Tax 2057.00

Profit /(Loss) after Tax (5930105.00) 79608.00

Balance brought forward (4380823.00) (4460431.00)

Balance carried to B/S I (10310928.00) (4380823.00)

Dividend:-

In view of Loss for the period under review, your Directors do not recommend any dividend.

Fixed Depositst-

During the period under the review, the Company did not accept or invite any deposit from public under the provisions of section 58A of the Companies Act, 1956 and the Rules made thereunder and therefore the question of compliance or otherwise does not arise.

Directors:-

Pursuant to provision of Section 256 of the Companies Act,1956 Mr. G. Taparia retires by rotation but being eligible offer himself for re-appointment.

Mr. Ram Chandra Singh and Mr. N. K. Pal were appointed an additional Director of the Company.

Mr. Harindra S. Hegde and Mr. A. Bajpaye resigned from the office of the Directors of the Company and the same was notified to the Registrar of Companies u/s. 303 of the Companies Act 1956. Your directors wish to place on record their appreciation for the able and efficient manner in which services were rendered by Mr. H. Hegde and Mr. A. Bajpaye during their association with the company in the office of Director.

Directors'' Responsibility Statement

In accordance with the requirements of Section 217 (2AA) of the Companies Act, 1956, your Directors wish to confirm the following:

i) that the applicable accounting standards have been followed in the preparation of the annual accounts;

ii; that 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 for the period 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 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

iv) that the Directors have prepared the accounts for the period ended 31.03.2011 on a going concern basis

Other Aspects

Provisions relating to Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo are not applicable to your Company.

Particulars of Employees

The particulars as required under Section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975, do not apply to your company as there was no employee drawing remuneration in excess of the amount prescribed under Section 217(2A) of the Companies Act, 1956 during the period ended 31st March, 2011.

Auditors & Auditors Report

The statutory Auditors of the Company M/s. Naushad Ahmed & Co., Chartered Accountants, Kolkata, hold office until the conclusion of the forthcoming Annual General Meeting of the company and being eligible offer themselves for reappointment,

Corporate Governance

The Auditors M/s. Naushad Ahmed & Co., have certified the Company''s compliance of the requirements of Corporate Governance in terms of clause 49 of the Listing Agreement. The said certificate together with the management''s discussion and analysis report, is attached which forms part of this report.

Acknowledgement

Your Directors wish to place on record their appreciation for the support of members of your company, the customers and constituents and the staff members of your company.

By order of the Board

R. C. Singh (Director)

Place: Howrah

Date: 02nd August 2011

 
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