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
Mar 31, 2010
The Directors have pleasure in presenting the Twenty Seventh Annual
Report on the business and operations of your Company and the Audited
Financial Results for the period ended 31st March 2010
Financial Results Y.E. 31.03.2010 Y.E. 31.03.2009
Operating Profit (PBIT) 254198.00 247755.00
Less: Depreciation & 164003.00 164940.00
Interest
Profit/(Loss) before tax 90195.00 82815.00
Less: Taxation 8530.00 10077.00
Less : Fringe Benefit Tax 2057.00 2195.00
Profit /(Loss) after Tax 79608.00 70543.00
Balance brought forward (4460431.00) (4530974.00)
Balance carried to B/S (4380823.00) (4460431.00)
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. A.
Bajpaye retires by rotation but being eligible offer himself for
re-appointment.
Directorsà 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
31.03.2007 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, 2007.
Auditors & Auditors Report
The statutory Auditors of the Company M/s. T.N. Datta & Associates,
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. T. N. Datta & Associates have certified the CompanyÃs
compliance of the requirements of Corporate Governance in terms of
clause 49 of the Listing Agreement. The said certificate together with
the managementÃs 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/ -
A. Bajpaye
(Director)
Place: Howrah
Date : 28th August 2010