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Directors Report of Technojet Consultants Ltd.

Mar 31, 2014

Dear Members,

The Directors hereby present their Report on the business and operations of the Company and the Financial Accounts for the year ended 31st March, 2014:

1. FINANCIAL RESULTS:

For the year For the year ended 31st ended 31st March, 2014 March, 2013

Profit before taxation 49,820 2,18,191

Less: Provision for taxation

Current tax 9,500 15,000

Excess Provision of tax of earlier years (11,010) -

(1,510) 15,000

Profit after taxation 51,330 2,03,191

Add: Balance brought forward from earlier year 42,83,881 40,80,690

Balance carried to Balance Sheet 43,35,211 42,83,881

2. DIVIDEND:

The Directors do not recommend any dividend for the financial year ended 31st March, 2014.

3. OPERATIONS:

The Company has stopped carrying on the work of converting Digital Electronics Products and has rented out the factory premises.

4. DEPOSITS:

The Company has not accepted any Deposits from the Public.

5. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO:

There is no information as per Section 217(1)(e) of the Companies Act, 1956 read with Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 regarding conservation of energy, technology absorption and foreign exchange earnings and outgo for disclosure as the company is an Investment Company.

6. DIRECTORS:

In accordance with the provisions of the Act and the Company''s Articles of Association, Mr. Rajesh Batra (DIN: 00020764) retires by rotation and is eligible for re-appointment.

Mrs. Maureen N. Wadia does not seek to be re-appointed.

Necessary resolution for the cessation of the aforesaid director have been included in the notice convening the ensuing AGM and requisite details have been provided in the explanatory statement of the notice. Your directors commend their appointments/reappointment.

7. DIRECTORS'' RESPONSIBILITY STATEMENT:

Pursuant to Section 217(2AA) of the Companies Act, 1956, the Directors, based on the representations from the Operating Management, confirm that:

i) in the preparation of the Annual Accounts, the applicable accounting standards have been followed along with proper explanations.

ii) they have, in selection of accounting policies consulted the Statutory Auditors 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 of the company for that period;

iii) they have taken proper and sufficient care, to the best of their knowledge and ability, 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;

iv) they have prepared the Annual Accounts on a going concern basis.

8. DISCLOSURE UNDER SECTION 217(2A) OF THE COMPANIES ACT, 1956:

The Company has no employees covered under Section 217(2A) of the Companies Act, 1956.

9. CORPORATE GOVERNANCE

Pursuant to Clause 49 of the Listing Agreement a Management Discussion and Analysis Report is given in Annexure ''A'' to this Report. A separate report on Corporate Governance and a certificate from the Statutory Auditors of the Company regarding compliance of the condition of Corporate Governance are annexed to this Report as Annexure ''B''

10. SECRETARIAL COMPLANCE CERTIFICATE

In accordance with Section 383A of the Companies Act, 1956 and Companies (Compliance Certificate) rules, 2001, the Company has obtained a certificate from a Secretary in whole-time practice confirming that the Company has complied with all the provisions of the Act.

11. AUDITORS

M/s. D. R. Kothari & Co, Chartered Accountants, who are the Statutory Auditors of the Company, hold office upto the conclusion of the ensuing Annual General Meeting. Pursuant to the provisions of Section 139 of the Companies Act, 2013 ("the Act") and the rules made thereunder, the Board recommends the re-appointment of M/s. D. R. Kothari & Co as auditors of the Company. If reappointed, they will hold office from the conclusion of the current AGM to the conclusion of the following AGM.

11. SHAREHOLDING PATTERN AS ON 31st MARCH, 2014.

No. of Shares %

Promoter Group * 146,093 73.06

Others 53,907 26.94

Total 2,00,000 100

* Promoter Group Companies

Mr. Ness N. Wadia, Sunflower Investments & Textiles Private Limited, Goodeed Charitable Foundation, M. S. I. L. Investments Private Limited, Naperol Investments Limited, Varnilam Investments & Trading Co. Limited and N. W. Export Limited.

By Order of the Board of Directors For TECHNOJET CONSULTANTS LIMITED

) D. S. Gagrat ) 00017082 ) DIRECTORS ) R. E. Vandrewala ) 00017178 Mumbai, Dated: 26th May, 2014 Registered Office: Neville House, J. N. Heredia Marg, Ballard Estate, Mumbai 400 001


Mar 31, 2012

The Directors hereby present their Report on the business and operations of the Company and the Financial Accounts for the year ended 31st March, 2012:

1. FINANCIAL RESULTS:

For the year For the year ended 31st ended 31 st March, 2012 March, 2011 (Rupees) (Rupees)

Profit/(Loss) before taxation 148,946 (63,088)

Less: Provision for taxation

Current tax - -

Deferred tax 13,000 -

13,000 -

Profit/(Loss) after taxation 135,946 (63,088)

Add: Balance brought forward from earlier year 3,944,744 4,007,832

Balance carried to Balance Sheet 4,080,690 3,944,744

2. DIVIDEND:

The Directors do not recommend any dividend for the year ended 31st March, 2012.

3. OPERATIONS:

During the year the electronics unit at Valsad manufactured a range of Static Voltage Regulators and Inventories on a job work basis. The Company has produced and sold Dental Curex Light during the year.

4. DEPOSITS:

The Company has not accepted any Deposits from the Public.

5. DIRECTORS:

Mr. Rajesh Batra and Mrs. R.E.Vandrewala retire by rotation, and are eligible, for reappointment.

6. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE, EARNINGS AND OUTGO:

There is no information as per Section 217(l)(e) of the Companies Act, 1956 read with Companies (Disclosure of particulars in the report of Board of Directors) Rules, 1988 regarding conservation of energy, technology absorption and foreign exchange earnings and outgo for disclosure as the company is an Investment Company.

7. DIRECTORS'' RESPONSIBILITY STATEMENT:

Pursuant to Section 217(2AA) of the Companies Act, 1956, the Directors, based on the representations from the Operating Management, confirm that:

i) in the preparation of the Annual Accounts, the applicable accounting standards have been followed.

ii) they have, in selection of accounting policies consulted the Statutory Auditors 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 of the company for that period;

iii) they have taken proper and sufficient care, to the best of their knowledge and ability, 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;

iv) they have prepared the Annual Accounts on a going concern basis.

8. DISCLOSURE UNDER SECTION 217(2A) OF THE COMPANIES ACT, 1956:

The Company has no employees covered under Section 217(2A) of the Companies Act, 1956.

9. SECRETARIAL COMPLANCE CERTIFICATE

In accordance with Section 383A of the Companies Act, 1956 and Companies (Compliance Certificate) rules, 2001, the Company has obtained a certificate from a Secretary in whole-time practice confirming that the Company has complied with all the provisions of the Act.

10. AUDITORS

You are required to appoint Auditors for the current year and fix their remuneration. The retiring Auditors M/s. D. R. Kothari & Co., offer themselves for re- appointment.

11. SHAREHOLDING PATTERN AS ON 31st MARCH, 2012.

No. of Shares %

Promoter Group * 146,293 73.15

Others 53,707 26.85

* Promoter Group Companies

Mr. Nusli N. Wadia and his relatives in terms of Section 6 of the Companies Act, 1956, Ms. Dina N. Wadia, Ms. Diana Claire Wadia, Ms. Elizabeth Anne Guhl, Ms. Bachoobai W. Daschkow, Jer Mavis Settlement No. II, Diana Claire Wadia Trust, Nusli Neville Wadia Trust, N. N. Wadia - Administrator of Estate of Late E. F. Dinshaw, Nowrosjee Wadia & Sons Limited, N. W. Exports Limited, Damascus Investments & Trading Co. Ltd., Archway Investments Co. Ltd., Jehreen Investments Pvt. Ltd., Lochness Investments Pvt. Ltd., Gherzi Eastern Investments Ltd., Nessville Trading Pvt. Ltd., Pointers Export Pvt. Ltd., Sunflower Investments & Textiles Pvt. Ltd., Go Investments & Trading Pvt. Ltd., The Bombay Burmah Trading Corporation Ltd., National Peroxide Ltd., Naperol Investments Ltd., Vamilam Investments & Trading Co. Ltd., Gherzi Eastern Ltd., Ben Nevis Investments Ltd., New Point Enterprises Ltd, Macrofil Investments Ltd., Lotus Viniyog Private Ltd., Botanium Ltd., Go Airlines (India) Ltd., Nidhivan Investments & Trading Co. Pvt. Ltd., Heera Holdings & Leasing Pvt. Ltd., Sahara Investments Pvt. Ltd., and their holding companies, subsidiary companies and associates.

By Order of the Board of Directors

For TECHNOJET CONSULTANTS LIMITED

DIRECTORS

Mumbai,

Dated: 31 MAY 2012

Registered Office:

Neville House,

J. N. Heredia Marg,

Ballard Estate,

Mumbai 400 001


Mar 31, 2011

The Directors hereby present their Report on the business and operations of the Company and the Financial Accounts for the year ended 31st March, 2011:

1. FINANCIAL RESULTS:

For the year For the year ended 31st ended 31st March, 2011 March, 2010 (Rupees) (Rupees)

(Loss) before taxation (63,088) (98,140)

Less: Provision for taxation

Current tax - -

Deferred tax - -

(Loss) after taxation (63,088) (98,140)

Add: Balance brought forward from earlier year 4,007,832 4,105,972

Balance carried to Balance Sheet 3,944,744 4,007,832

2. DIVIDEND:

The Directors do not recommend any dividend for the year ended 31st March, 2011.

3. OPERATIONS:

During the year the electronics unit at Valsad manufactured a range of Static Voltage Regulators and Inventories on a job work basis. The Company has produced and sold Dental Curex Light during the year.

4. DEPOSITS:

The Company has not accepted any Deposits from the Public.

5. DIRECTORS:

Mr. D.S. Gagrat and Mrs. M.N. Wadia retire by rotation, and are eligible, for reappointment.

6. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE, EARNINGS AND OUTGO:

There is no information as per Section 217(1)(e) of the Companies Act, 1956 read with Companies (Disclosure of particulars in the report of Board of Directors) Rules, 1988 regarding conservation of energy, technology absorption and foreign exchange earnings and outgo for disclosure as the company is an Investment Company.

7. DIRECTORS' RESPONSIBILITY STATEMENT:

As required under section 217(2AA) of the Companies Act, 1956, which was introduced by the Companies (Amendment) Act, 2000 (53 of 2000), the Directors confirm that:

i) In the preparation of the annual accounts, the applicable accounting standards have been followed.

ii) They had 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 as on 31st March, 2011 and of the Loss of the Company for the year ended 31st March, 2011.

iii) They have 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 for preventing and detecting fraud and other irregularities;

iv) They have prepared the annual accounts on a going-concern basis.

8. DISCLOSURE UNDER SECTION 217(2A) OF THE COMPANIES ACT, 1956:

The Company has no employees covered under Section 217(2A) of the Companies Act, 1956.

9. SECRETARIAL COMPLANCE CERTIFICATE

In accordance with Section 383A of the Companies Act, 1956 and Companies (Compliance Certificate) rules, 2001, the Company has obtained a certificate from a Secretary in whole-time practice confirming that the Company has complied with all the provisions of the Act.

10. AUDITORS

The Members are requested to appoint Messrs. D.R.Kothari & Co., Chartered Accountants as Auditor of the Company at a remuneration to be fixed by the Board of Directors.

11. SHAREHOLDING PATTERN AS ON 31st MARCH, 2011.

No. of Shares %

Promoter Group * 146,293 73.15

Others 53,707 26.85

* Promoter Group Companies

Mr. Nusli N. Wadia and his relatives in terms of Section 6 of the Companies Act, 1956, Ms. Diana Claire Wadia, Ms Elizabeth Anne Guhl, Ms. Bachoobai W. Daschkow, Jer Mavis Settlement No. II, Diana Claire Wadia Trust, Nusli Neville Wadia trust, N.N. Wadia - Administrator of Estate of Late E.F. Dinshaw, Nowrosjee Wadia & Sons Limited, N.W. Exports Limited, Damascus Investments & Trading Co. Ltd., Archway Investments Co. Ltd., Jehreen Investments Pvt. Ltd., Lochness Investments Pvt. Ltd., Gherzi Eastern Investments Ltd., Nessville Trading Pvt. Ltd., Pointers Export Pvt. Ltd., Sunflower Investments & Textiles Pvt. Ltd., Go Investments & Trading Pvt. Ltd., The Bombay Burmah Trading Corporation Ltd., National Peroxide Ltd., Naperol Investments Ltd., Varnilam Investments & Trading Co. Ltd., Gherzi Eastern Ltd., Ben Nevis Investments Ltd., Macrofil Investments Ltd., Lotus Viniyog Private Ltd., Botanium Ltd., Go Airlines India Pvt. Ltd., Nidhivan Investments & Trading Co. Pvt. Ltd., Heera Holdings & Leasing Pvt. Ltd., Sahara Investments Pvt. Ltd., and their holding companies, subsidiary companies and associates.

By Order of the Board of Directors

For TECHNOJET CONSULTANTS LIMITED



SD/-

MR. D. S. GAGRAT DIRECTORS

SD/-

MRS. R.E. VANDREWALA

Mumbai, 31st May, 2011.

Registered Office:

Neville House, J.N.Heredia Marg,

Ballard Estate, Mumbai 400 001


Mar 31, 2010

The Directors hereby present their Report on the business and operations of the Company and the Financial Accounts for the year ended 31st March, 2010:

1. FINANCIAL RESULTS:

For the year For the year ended 31st ended 31st March, 2010 March, 2009 (Rupees) (Rupees)

(Loss) before taxation (98,140) (219,055)

Less: Provision for taxation

Current tax - -

Deferred tax _ _

(Loss) after taxation (98,140) (219,055)

Add: Balance brought forward from earlier year 4,105,972 4,325,027

Balance carried to Balance Sheet 4,007,832 4,105,972

2. DIVIDEND:

The Directors do not recommend any dividend for the year ended 31st March, 2010.

3. OPERATIONS:

During the year the electronics unit at Valsad manufactured a range of Static Voltage Regulators and Inventories on a job work basis. The Company has produced and sold Dental Curex Light during the year.

4. DEPOSITS:

The Company has not accepted any Deposits from the Public.

5. DIRECTORS:

Mr. Rajesh Batra and Mrs. R.E.Vandrewala retire by rotation, and are eligible, for reappointment.

6. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE, EARNINGS AND OUTGO:

There is no information as per Section 217(1)(e) of the Companies Act, 1956 read with Companies (Disclosure of particulars in the report of Board of Directors) Rules, 1988 regarding conservation of energy, technology absorption and foreign exchange earnings and outgo for disclosure as the company is an Investment Company.

7. DIRECTORS' RESPONSIBILITY STATEMENT:

As required under section 217(2AA) of the Companies Act, 1956, which was introduced by the Companies (Amendment) Act, 2000 (53 of 2000), the Directors confirm that:

i) In the preparation of the annual accounts, the applicable accounting standards have been followed.

ii) They had 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 as on 31st March, 2010 and of the Loss of the Company for the year ended 31st March, 2010.

iii) They have 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 for preventing and detecting fraud and other irregularities;

iv) They have prepared the annual accounts on a going-concern basis.

8. DISCLOSURE UNDER SECTION 217(2A) OF THE COMPANIES ACT, 1956:

The Company has no employees covered under Section 217(2A) of the Companies Act, 1956.

9. SECRETARIAL COMPLANCE CERTIFICATE

In accordance with Section 383A of the Companies Act, 1956 and Companies (Compliance Certificate) rules, 2001, the Company has obtained a certificate from a Secretary in whole-time practice confirming that the Company has complied with all the provisions of the Act.

10. AUDITORS

The Members are requested to appoint Messrs. D.R.Kothari & Co., Chartered Accountants as Auditor of the Company at a remuneration to be fixed by the Board of Directors.

By Order of the Board of Directors

For TECHNOJET CONSULTANTS LIMITED



SD/-

MR. D. S. GAGRAT DIRECTORS

SD/-

MRS. R.E.VANDREWALA

Mumbai, 31st MAY 2010

Registered Office:

Neville House, J.N.Heredia Marg,

Ballard Estate, Mumbai 400 001


Mar 31, 2002

The Directors hereby present their Report on the business and operations of the Company and the Financial Accounts for the year ended 31st March 2002:

1. FINANCIAL RESULTS:

For the year For the year ended 31st ended 31st March, 2002 March, 2001 (Rupees) (Rupees)

Profit/(Loss) before taxation (100,181) 90,639

Less: Provision for taxation - -

Profit/(Loss) after taxation (100,181) 90,639

Less: Short Provision for taxation for earlier years (Net) - 4,844

(100,181) 85,795 Add: Balance in Profit and Loss Account of Previous Year 3,355,097 3,269,302

Balance carried to Balance Sheet 3,264,916 3,366,097

2. OPERATIONS:

During the year the electronics unit at Valsad manufactured a range of Static Voltage Regulators and Inventories on a job work basis. The Company has produced and sold Dental Curex Light during the year.

3. DIVIDEND:

The Directors do not recommend any Dividend.

4. FIXED DEPOSIT:

No Deposits from the public are accepted by the Company.

5. DIRECTORS:

Mr.H.J.Bamjee who was associated with the Company for 20 years in his capacity as Director of the Company, passed away on 27th April, 2002. During his long association with the Company, he made significant contributions to the Companys growth and prosperity. The Board has placed on record its deep sense of loss on the passing away of Mr.H.J.Bamjee.

Mr.Rajesh Batra and Mrs.Rhoda E Vandrewala retire by rotation, and are eligible for reappointment.

6. PARTICULARS OF EMPLOYEES:

The Company had no employees covered under section 217(2A) of the Companies Act, 1956.

7. DIRECTORS RESPONSIBILITY STATEMENT;

Pursuant to Section 217(2AA) of the Companies Act, 1956 (hereinafter referred to as "the Act", your Directors based on the representations from the Operating Management confirm that:

(i) In the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departure.

(ii) They have in selection of the accounting policies consulted the statutory auditors 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 financial year and of the profit of the Company for that period.

(iii) They have taken proper and sufficient care to the best of their knowledge and ability for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

(iv) They have prepared the Annual Accounts on a going concern basis.

8. SECRETARIAL COMPLIANCE CERTIFICATE.

In accordance with Section 383 A of the Companies Act, 1956 and Companies (Compliance Certificate) rules, 2001, the Company has obtained a certificate from a Secretary in whole-time practice confirming that the Company has complied with all the provisions of the Act.

9 AUDITORS:

The Members are requested to appoint Messrs.D.R.Kothari & Co. Chartered Accountant as Auditors of the Company at a remuneration to be fixed by the Board of Directors.

By Order of the Board of Directors For TECHNOJET CONSULTANTS LIMITED

MR.D.S.GAGRAT

DIRECTORS MRS.RHODA E VANDREWALA



Mumbai, 27th June, 2002

Registered Office: Neville House, J.N.Heredia Marg, Ballard Estate, Mumbai 400 001.

 
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