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Directors Report of Tiger Logistics (India) Ltd.

Mar 31, 2014

Dear Members,

The Directors of your Company have pleasure in presenting the 14th Annual Report together with the Audited Statements of Accounts and the Auditors'' Report of your Company for the Financial Year ended on 31st March, 2014. The summarized financial performance for the year ended 31st March, 2014 is as follows:

FINANCIAL PERFORMANCE (Rs. in Lacs)

Particulars Current Year Previous Year

NetSales/Incomefrom operations 14,748.06 12,214.61

Other Income 66.66 59.30

TotalExpenditure 14,213.57 117,84.38

Gross Profit before Interest, 679.34 574.21 Depreciation and Taxation

Interest 0.66 07.03

Gross Profit after Interest but before 678.68 568.18 Depreciation and Taxation

Depreciation 77.52 77.75

Profit/(Loss)beforetaxation 601.16 489.52

Tax 209.17 150.27

Net Profit 391.99 339.25

OPERATIONS

Your Company has seen an overall growth in turnover from its business during the year. During the Current Financial Year the Company has achieved a turnover of Rs. 14,748.90 Lacs as against the turnover of Rs. 12,214.61 Lacs in the previous year. The net profit of the Company has also increased from last year. It is Rs. 391.99 Lacs in the current year as against Rs. 339.25 Lacs in the Previous Year.

DIVIDEND

Your Directors have not recommended any dividend for the year under review.

FIXED DEPOSITS

The Company has not accepted any Fixed Deposits during the year under review.

STOCK EXCHANGE & LISTING FEES

The Company''s Equity Shares at present are listed at BSE(SME) Limited, Mumbai. It may be noted that there are no payments outstanding to the Stock Exchange by way oflisting fees, etc.

BOARD OF DIRECTORS

In accordance with the provisions of the Companies Act, Mrs. Benu Malhotra and Mrs. Surjeet Kaur Malhotra are liable to retire by rotation and are eligible for re-appointment at the ensuing Annual General Meeting.

Recent notifications of Section 149 and other applicable provisions of the Companies Act, 2013 and Clause 52 of the Listing Agreement appointment oflndependent Director is required.

Your Directors appointed Mr. Sanjay Chopra, Mr. Praneet Kohli and Mr. Devender Mohan Mahajan as Independent Directors for Five consecutive years from 25th September, 2014to 24th September, 2019.

STATUTORY AUDITORS

M/s V.K. Sehgal Associates, Chartered Accountants, having its office at 201, Harsh Bhawan 64-65, Nehru Place, New Delhi - 110019, Email: vksehgall23@vsnl.net, info@vksa.in, the Statutory Auditors of the Company will retire at the ensuing Annual General meeting of the Company. The Company has received a certificate from the statutory auditors to the effect that their re-appointment, if made, would be eligible under Section 141 of the Companies Act, 2013.

Your Directors recommends their re-appointment as Statutory Auditors of the Company until the conclusion of next Annual General Meeting to be held in the financial year 2015-16 subject to annual ratification by members at every General Meeting.

AUDITORS'' REPORT

The observations of the auditors made in their report are self-explanatory and therefore, in the opinion of your Directors, do not call for further comments.

INTERNAL AUDITORS

M/s Amit & Nitin, Chartered Accountants, having its office at 219, LGF, Vinobapuri, Lajpat Nagar - II New Delhi - 110024 has been appointed in your company for the purpose of Internal Audit. The Company has received a certificate from the Internal auditor to the effect that their appointment.

SECRETARIAL AUDITORS

Mr. Manoj kumar Jain, Amj & Associates, practicing company secretary of Delhi has been appointed in your company for the purpose of conducting Secretarial Audit. The Company has received a certificate from the Internal auditor to the effect that their appointment.

PARTICULARS OF EMPLOYEES

There was no employee during the year under review, whose particulars are required to be given pursuant to Section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975 Except Mr. Harpreet Singh Malhotra, Managing Director of the Company who drew a salary of Rs. 84.00 Lacs for the year ended 2013-14. Mr. Harpreet Singh Malhotra (aged 41) is having experience of more than 13 years and associated with our company as promoter from the year 2000.

In terms of section 217 (2AA) of the Companies Act, 1956 the Directors hereby confirm that:

(i) In the preparation of Annual Accounts, applicable Accounting Standards have been followed along with proper explanation related to material departures;

(ii) The Directors have selected Accounting Policies and applied them consistently and madejudgements 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 or Loss of the Company for that period;

(iii) The Directors 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 and for preventing and detecting fraud and other irregularities;

(iv) The Directors have prepared the annual accounts on a going concern basis.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO

Information in accordance with Section 217 (l)(e) of the Companies Act, 1956 read with the Companies (Disclosure of Particulars in the report of Board of Directors) Rules, 1988 is given in Annexure ''A'' forming part of this report. The particulars as required under the provisions of Section 217(1) (e) of the Companies Act, 1956 in respect of conservation of energy and technology absorption have not been furnished considering the nature of activities undertaken by the company during the year under review.

REPORT ON CORPORATE GOVERNANCE

A report on Corporate Governance as stipulated in Clause 52 of the Listing Agreement is given in Annexure ''B'' which forms a part of the Director''s Report.

REPORT ON SECRETARIAL COMPLIANCE

A report on Secretarial Compliance as stipulated in section 383A of the Companies Act, 1956 given in Annexure ''C'' which forms a part of the Director''s Report.

DISCLOSURES UNDER SECTION 217QED1 OF THE COMPANIES ACT. 1956

Except as disclosed elsewhere in the report, there have been no material changes and commitments which can affect the financial position of the Company occurred between the end of financial year of the Company and date of this report.

ACKNOWLEDGEMENT

The Board placed on record its appreciation for the valuable support and cooperation of the principals, distributors, dealers, customers who have shown their interest and confidence in our products. The Board also placed on record its appreciation for valuable support and co-operation of suppliers, shareholders, banks, management team and the entire work force for their commitment and look forward to their continued support in future.

By order of the Board For TIGER LOGISTICS (INDIA) LIMITED Sd/- Harpreet Singh Malhotra Managing Director DIN: 00147977

Address: 804A-807, Skylark Building, 60, Nehru Place, New Delhi -19.

Place: New Delhi Date: 22/08/2014

 
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