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Directors Report of Surya India Ltd.

Mar 31, 2014

Dear Members,

The Directors of your Company are pleased to present the Audited Financial Statements of the Company for the financial year ended on 31st March, 2014.

Financial Results

The financial Results of the Company are summarized below:

(Amount in Lacs)

Particulars Financial Financial year year 2013-2014 2012-2013

Total Revenue 520.91 381.01

Profit before Depreciation 383.27 244.62

Less: Depreciation 39.69 34.33

Profit before Tax 343.58 210.29

Provision for Tax(Net) 49.62 58.55

Profit after Tax 293.96 151.74

Transfer to Statutory Fund 58.79 30.35

Dividend

Keeping in view of the fund requirements of the Company and business scenario, your Board proposes to plough back the profits in business of the Company and create reserve for the Company. As a matter of this, your board does not recommend any dividend for the financial year 2013-14.

Directors

During the Financial Year 2013-14, there is no change in the directorship of the Company. Mr. Ram Babu Goyal has resigned from the post of director of the Company w.e.f. 11/08/2014. The Board of Directors placed on record its sincere appreciation to the contribution rendered by him towards the growth of the Company during their association with the Company

Proposals for the re-appointment of Mrs. Preeti Agarwal as Managing Director, Mrs. Priyanka Agarwal as Whole Time Director, Mr. Ganesh Dass Agarwal and Mr. Kishan Behari Jain as Independent Directors have been included in the Notice of the Annual General Meeting for your approval.

Deposits

The Company has not accepted any fixed deposits from the Shareholders/ public during the year under review within the meaning of Section 58A of the Companies Act, 1956.

Investment

At the end of the year under review, your Company has invested total amount of Rs. 221.56 lacs in both, trade and non-trade investment.

Auditors

M/s P. R. Kumar & Co., Chartered Accountants, Statutory Auditors of the Company holds office until the conclusion of this ensuing Annual General Meeting and are eligible for re- appointment. M/s P. R. Kumar & Co., the Statutory Auditors, have given their consent for re-appointment under section 139(1) of the Companies Act, 2013 and rules framed thereunder and furnished a certificate of their eligibility as prescribed under the provisions of section 141 of the Companies Act, 2013. The members are requested to approve their re-appointment as statutory Auditors of the Company for a period of 3 (three) consecutive years, from the conclusion of ensuing Annual General Meeting till the conclusion of the 32nd Annual General Meeting of the Company to be held for the financial year 2016-17, subject to annual ratification by the members at every Annual General Meeting in accordance with the provisions of Section 139 of the Companies Act, 2013 and rules made thereunder and to fix their remuneration.

Corporate Governance

Pursuant to Clause 49 of the Listing Agreement with the Stock Exchange, Report on Corporate Governance and Compliance Certificate on Corporate Governance (Annexure 1) and Management Discussion and Analysis Report (Part of the annexure 1) are annexed and form an integral part of this Report.

Auditors' Report

The Auditors' Report along with Notes on Accounts are Self-explanatory and therefore, do not call for any further comments or explanation.

Directors' Responsibility Statements

Pursuant to the requirement of Section 217(2AA) of the Companies Act, 1956 with respect to Directors' Responsibility Statements, it is hereby confirmed:

i) that in preparation of the Annual Accounts for the financial year ended 31st March, 2014, the applicable accounting standards had been followed along with proper explanation relating to material departures;

ii) that the directors had selected such accounting policies and applied them consistently and made judgments and estimates that were reasonable and prudent so as to give a true and fair view of the state of affairs of your Company at the end of the financial year and of the profit of your Company for that period;

iii) that the directors had 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;

iv) that the directors had prepared the Annual Accounts for the financial year ended 31st March, 2014 on a "going concern basis."

Energy Conservation, Technology Absorption, Foreign Exchange Earning and Outgo

Information on conservation of energy, technology absorption, foreign exchange earning and outgo required to be given pursuant to Section 217(1)(e) of the Companies Act, 1956, read with the Companies (Disclosures of particulars in the Report of the Board of Directors) Rules 1988 is mentioned below:

i) Conservation of Energy

Being Finance & Investment Company, this clause is not applicable for the Company.

ii) Technology Absorption

The prescribed Form-B is not applicable to the Company.

iii) Foreign Exchange earning and outgo

Total Foreign Exchange Earning and Outgo.

Earnings: Nil

Outgo: Rs. 247,970/-

Particulars of Employees

During the year under review there are no employees whose particulars are required to be disclosed pursuant to Section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules 1975.

Employees

Employee's relations continue to be cordial during the year.

Acknowledgements

Your Directors wish to record their sincere gratitude for our valued Business associates for the continuous co-operation, support and assistance extended by them. We place on record our appreciation of the commitment, dedication and hard work put in by employees of the Company. We also thank our members for the continued support received from them.

For and on behalf of the Board

Preeti Agarwal Chairman & Managing Director (DIN: 00011450) J-15, Hauz Khas Enclave, New Delhi-110016 Place: New Delhi Date: 11th August, 2014




Mar 31, 2013

Dear Members,

The Directors of your Company are pleased to present the Annual Report together with the Audited Statement of Profit & Loss Accounts of the Company for the financial year ended 31st March, 2013.

Financial Results

The financial Results of the Company are summarized below:

(Amount in Lacs)

Particulars Financial Financial year year 2012-2013 2011-2012

Total Revenue 381.01 277.20

Profit before Depreciation 244.61 175.10

Less: Depreciation 34.33 27.82

Profit before Tax 210.28 147.28

Provision for Tax(Net) 58.54 40.94

Profit after Tax 151.74 106.34

Transfer to Statutory Fund 30.35 21.27

Dividend

Keeping in view of the fund requirements of the Company and business scenario, your Board proposes to plough back the profits in business of the Company and create reserve for the Company. As a matter of this, your board does not recommend any dividend for the financial year 2012-13.

Directors:

Mr. Ram Babu Goyal and Mr. Ganesh Dass Agarwal, Directors of the Company, would retire by rotation at the forthcoming Annual General Meeting of the Company. Proposals for their reappointment have been included in the Notice of the Annual General Meeting for your approval.

Fixed Deposits

The Company has not accepted any fixed deposits from the Shareholders/ public during the year under review within the meaning of Section 58A of the Companies Act, 1956.

Investment

At the end of the year under review your company has invested total amount of Rs. 222.98 lacs in both, trade and non trade investment.

Auditors

M/s P. R. Kumar & Co., Statutory Auditors of the Company will retire at the ensuing Annual General Meeting and being eligible for re-appointment, you are requested to approve their reappoint as statutory Auditors and to fix their remuneration at the forthcoming Annual General Meeting.

Corporate Governance

Pursuant to Clause 49 of the Listing Agreement with the Stock Exchange, Report on Corporate Governance and Compliance Certificate on Corporate Governance (Annexure 1) and Management Discussion and Analysis Report (Part of the annexure 1) are annexed and form an integral part of this Report.

Auditors' Report

The Auditors' Report along with Notes on Accounts are Self-explanatory and therefore, do not call for any further comments or explanation.

Directors' Responsibility Statements

Pursuant to the requirement of Section 217(2AA) of the Companies Act, 1956 with respect to Directors' Responsibility Statements, it is hereby confirmed:

i) that in preparation of the Annual Accounts for the financial year ended 31st March, 2013, the applicable accounting standards had been followed along with proper explanation relating to material departures;

ii) that the directors had selected such accounting policies and applied them consistently and made judgments and estimates that were reasonable and prudent so as to give a true and fair view of the state of affairs of your Company at the end of the financial year and of the profit of your Company for that period;

iii) that the directors had 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;

iv) that the directors had prepared the Annual Accounts for the financial year ended 31st March, 2013 on a "going concern basis."

Energy Conservation. Technology Absorption, Foreign Exchange Earning and Outgo

Information on conservation of energy, technology absorption, foreign exchange earning and outgo required to be given pursuant to Section 217(l)(e) of the Companies Act, 1956, read with the Companies (Disclosures of particulars in the Report of the Board of Directors) Rules 1988 is mentioned below:

i) Conservation of Energy

Being Finance & Investment Company, this clause is not applicable for the Company.

ii) Technology Absorption

The prescribed form-B is not applicable to the Company.

iii) Foreign Exchange earning and outgo

Total Foreign Exchange Earning and Outgo.

Earnings: Nil

Outgo: Rs.142,701

Particulars of Employees

During the year under review there are no employees whose particulars are required to be disclosed pursuant to Section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules 1975.

Employees

Employee's relations continue to be cordial during the year.

Acknowledgements

Your Directors wish to record their sincere gratitude for our valued Business associates for the continuous co-operation, support and assistance extended by them. We place on record our appreciation of the commitment, dedication and hard work put in by employees of the Company. We also thank our members for the continued support received from them.

For and on behalf of the Board

Preeti Agarwal Chairman & Managing Director (DIN: 00011450) Place: New Delhi Date: 29th May, 2013


Mar 31, 2012

Dear Members,

The Directors of your Company are pleased to present the Annual Report together with the Audited Statement of Accounts of the Company for the financial year ended 31st March, 2012.

Financial Results

The financial Results of the Company are summarized below:

(Amount in Lacs)

Particulars Financial Financial year year 2011-2012 2010-2011

Total Revenue 277.20 185.61

Profit before Depreciation 175.10 81.97

Less: Depreciation 27.82 27.70

Profit before Tax 147.28 54.27

Provision for Tax(Net) 40.94 12.40

Profit after Tax 106.34 41.87

Transfer to Statutory Fund 21.27 8.37

Dividend

Keeping in view of the fund requirements of the Company and business scenario, your Board proposes to plough back the profits in business of the Company and create reserve for the Company. As a matter of this, your board does not recommend any dividend for the financial year 2011-12.

Directors:

Mr. Kishan Behari Jain and Mr. Ganesh Dass Agarwal, Directors of the Company, would retire by rotation at the forthcoming Annual Genera! Meeting of the Company. Proposals for their reappointment have been included in the Notice of the Annual General Meeting for your approval.

Fixed Deposits

The Company has not accepted any fixed deposits from the Shareholders/ public during the year under review within the meaning of Section 58A of the Companies Act, 1956.

Investment

At the end of the year under review your company has invested total amount of Rs. 622.98 lacs in both, trade and non trade investment.

Auditors

M/s P, R. Kumar & Co., Statutory Auditors of the Company will retire at the ensuing Annual General Meeting and being eligible for re-appointment, you are requested to approve their reappoint as statutory Auditors and to fix their remuneration at the forthcoming Annual General Meeting.

Corporate Governance

Pursuant to Clause 49 of the Listing Agreement with the Stock Exchange, Report on Corporate Governance and Compliance Certificate on Corporate Governance (Annexure 1) and Management Discussion and Analysis Report (Part of the annexure 1) are annexed and form an integral part of this Report.

Auditors' Report

The Auditors' Report along with Notes on Accounts are Self-explanatory and therefore, do not call for any further comments or explanation.

Directors' Responsibility Statements

Pursuant to the requirement of Section 217(2AA) of the Companies Act, 1956 with respect to Directors' Responsibility Statements, it is hereby confirmed:

i) that in preparation of the Annual Accounts for the financial year ended 31st March, 2012, the applicable accounting standards had been followed along with proper explanation relating to material departures;

ii) that the directors had selected such accounting policies and applied them consistently and made judgments and estimates that were reasonable and prudent so as to give a true and fair view of the state of affairs of your Company at the end of the financial year and of the profit of your Company for that period;

iii) that the directors had 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;

iv) that the directors had prepared the Annual Accounts for the financial year ended 31st March, 2012 on a "going concern basis."

Energy Conservation, Technology Absorption, Foreign Exchange Earning and Outgo

Information on conservation of energy, technology absorption, foreign exchange earning and outgo required to be given pursuant to Section 217(l)(e) of the Companies Act, 1956, read with the Companies (Disclosures of particulars in the Report of the Board of Directors) Rules 1988 is mentioned below:

i) Conservation of Energy

Being Finance & Investment Company, this clause is not applicable for the Company.

ii) Technology Absorption

The prescribed form-B is not applicable to the Company.

iii) Foreign Exchange earning and outgo

Total Foreign Exchange Earning and Outgo.

Earnings: Nil

Outgo: Rs.2,54,3 86/-

Particulars of Employees

During the year under review there are no employees whose particulars are required to be disclosed pursuant to Section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules 1975.

Employees

Employee's relations continue to be cordial during the year.

Acknowledgements

Your Directors wish to record their sincere gratitude for our valued Business associates for the continuous co-operation, support and assistance extended by them. We place on record our appreciation of the commitment, dedication and hard work put in by employees of the Company. We also thank our members for the continued support received from them.

For and on behalf of the Board For Surya India Limited

Preeti Agarwal Chairman & Managing Director (DIN: 00011450) Place: New Delhi Date: 03rd September, 2012

 
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