Mar 31, 2014
The Members,
The Directors take pleasure in presenting the 20th Annual Report on
the business and operations of the Company alongwith the Audited
Statement of Accounts of your Company for the financial year ended 31st
March, 2014:
FINANCIAL RESULTS
Financial summary of the Company for the year under review along with
figures for previous year are as follows:
(Rs. in Lacs)
Particulars 31.03.2014 31.03.2013
Sales & Other Income _ _
Profit/ (Loss) before depreciation (1.55) (2.05)
Less: Depreciation 1.03 1.03
Profit/ (Loss) before Tax (2.53) (3.09)
Less: Provision for Tax
Current Tax 0.00 0.00
Fringe Benefit Tax 0.00 0.00
Deferred Tax 1.96 1.99
Less: Exceptional items 0.00 (1.70)
Net Profit/ (Loss) after Tax & Adjustments (4.55) (6.78)
PERFORMANCE
The Company incurred loss of Rs. 4.55 lacs as compared to that of Rs.
6.78 lacs incurred in the previous year. Your Directors are hopeful of
achieving better results in the current year.
DIVIDEND
Owing to the continuous losses incurred by the Company, your Directors
regret their inability to declare any dividend during the year under
review.
MARKETING STRATEGY
Your Company is making efforts to implement new plans and strategies
and diversify the existing range of products so that the Company
obtains new synergies in Global trade, as well as Domestic trade.
Further, with the favourable government policies to aid the Production
and Manufacturing of Goods and Services and the development in Foreign
Trade and Foreign direct investment policies, your Directors are
hopeful that the Company will be able to maximize its opportunities for
growth and development in the near future.
FUTURE OUTLOOK
The future strategy of the Company is as follows:
i) To increase production of the products
ii) To start catering to higher value added products
iii) To reduce costs with the increase level of production
The Company has long term and short term plans for new products,
marketing strategies and tie up with other entities which are being
implemented from time to time. Implementation of new plans will make
possible for your Company to achieve the targets above par.
It is expected that while the growth in profitability would be a
challenge, the concrete plans and strategies which are afoot should see
growth in turnover and profits in the years to come.
FINANCE
Your Directors are pleased to announce that your Company is a Zero Debt
Company and it does not have any liability for loans and interest
burden thereof.
SHARE CAPITAL & LISTING
Your Directors are pleased to announce that your Company has obtained
connectivity with Central Depository Services Limited (CDSL) and
National Depository Services Limited (NSDL) to provide facilities to
all members, investors and shareholders and to hold the shares in
dematerialised form. Equity shares of the Company can be held in
electronic form with any depository participant (DP) with whom Members
/ Investors have their Demat Accounts. The Equity Shares of the Company
are listed and being traded with the Bombay Stock Exchange.
DIRECTORS
In accordance with Section 152(6) of the Companies Act, 2013 and the
Articles of Association of the Company, Mr. Manish Sinvhal and Mr.
Sushil Kumar Chokhani will retire by rotation at the ensuing Annual
General Meeting and being eligible, offer themselves for
re-appointment.
Mr. Vikram Khandelwal, Mr. Dayaram Dhoot and Mr. Manish Maheshwari,
Directors of the Company continue to hold Directorship in the Company.
DIRECTORS'' RESPONSIBILITY STATEMENT
Pursuant to the requirement under Section 217 (2AA) of the Companies
Act, 1956, the Directors of the Company confirm that:
(i) That in the preparation of the annual accounts for the financial
Period ended 31st March, 2014 the applicable accounting standards have
been followed along with proper explanation relating to material
departures;
(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 at the end of the financial Period;
(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, 1956 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 financial
Period ended 31st March, 2014 on a going concern basis.
DEPOSITS
Your Company has, during the year, not accepted any public deposit
within the meaning of the provisions of section 58 A of the Companies
Act, 1956.
COMPANY SECRETARY
The Company is making efforts to find a suitable candidate for the post
of Company Secretary, as matter of complying with the law.
AUDITORS AND THEIR REPORT
M/s. Nahata Mahajan & Co., Chartered Accountants, (Firm Regn. No.
009739C), Indore retire at the conclusion of the ensuing Annual General
Meeting and have given their consent to be appointed as the Auditors of
the Company. The Board hence pursuant to Section 139 of the Companies
Act, 2013 and the Companies (Audit and Auditors) Rules, 2014, propose
to appoint them as the Statutory Auditors of the Company, who shall
hold Office from the conclusion of Twentieth Annual General Meeting
until the conclusion of the Twenty Fourth Annual General Meeting of the
Company subject to ratification by the shareholders at every Annual
General Meeting on such remuneration as shall be fixed by the Board of
Directors.
CORPORATE GOVERNANCE
Your Company is committed to follow the guidelines of SEBI and Stock
Exchanges from time to time. Your Company implemented most of its major
stipulation as applicable to the Company. The Statutory Auditors''
certificate dated 30th August, 2014 in accordance with clause 49 of
Listing agreement and a report on Corporate Governance is annexed
hereto and forming part of the Directors'' Report.
STATUTORY INFORMATION
A. CONSERVATION OF ENERGY
The Particulars required under Section 217 (1) (e) of the Companies
Act, 1956 read with the Companies (Disclosure of particulars in the
report of the Board of Directors) Rules, 1988 are not applicable to the
Company. However, considering the importance of conservation of energy
and the benefits derived out of it, the Company has introduced various
measures that involve the conservation. The measures adopted including
using power savers wherever possible, less power consuming electrical
fittings etc.
The employees are also made aware of the advantages of conserving power
and to implement it by using natural lighting and ventilation wherever
possible. However, the Company has not incurred any major expenditure
on this account.
B. FOREIGN EXCHANGE EARNINGS AND OUTGO
During the year under review, transactions in Foreign Exchange are as
under:
Foreign Exchange Earnings : Nil (Previous Year - Nil)
Foreign Exchange Outgo : Nil (Previous Year - Nil)
C. RESEARCH AND DEVELOPMENT (R&D), TECHNOLOGY ABSORPTION, ADAPTATION &
INNOVATION
The Company has neither carried out any Research and Development
activities nor absorbed/adapted/innovated any Technology during the
financial year under review. Hence, the Company has not incurred any
expenditure under this category.
D. PARTICULARS OF EMPLOYEES
During the year under review, there were no employees drawing
remuneration of Rs. 60,00,000 p.a. or Rs. 5,00,000/- p.m. or more.
Hence there is no information to be provided in accordance to Section
217 (2A) of the Companies Act, 1956 read with the Companies
(Particulars of employees) Rule 1975.
HUMAN RESOURCE
Your Company believes in the philosophy of communicating with the
entire team in a two way process. Company also believes in the
principal of proper delegation of authority which results in uplift of
Commitment level, responsibility and accountability of entire team
right from Managing Director to Lowest level of administration. Every
effort is made to implement the suggestions received and to encourage
staff for more suggestions and discussions for ongoing improvement.
ACKNOWLEDGEMENT
Your Directors wishes to place on record their sincere thanks to the
valuable clients, vendors, investors, banks, business associates,
consultants and advisors for their keen involvement with the
Company''s affairs and business and look forward for their continued
support in the future.
Your Directors make a special mention and their deep sense of
appreciation to the employees of the Company for their continued effort
and contribution for the potential growth of the Company.
FOR AND ON BEHALF OF THE BOARD OF DIRECTORS
OF TRANS ASIA CORPORATION LIMITED
S/d S/d
(DAYARAM DHOOT) (SUSHIL CHOKHANI)
CHAIRMAN DIRECTOR
REGISTERED OFFICE:
110, ROYAL RATAN,
7, M. G. ROAD,
INDORE - 452 001 DATE: 30th AUGUST, 2014
Mar 31, 2013
The Directors take pleasure in presenting the 19th Annual Report on
the business and operations of the Company along with the Audited
Statement of Accounts of your Company for the financial year ended 31st
March, 2013:
FINANCIAL RESULTS
Financial summary of the Company for the year under review along with
figures for previous year are as follows:
(Rs. in Lacs)
Particulars 31.03.2013 31.03.2012
Sales & Other Income - 40.53
Profit/(Loss) before depreciation (2.05) (3.37)
Less: Depreciation 1.03 1.03
Profit/ (Loss) before Tax (3.09) (4.41)
Less: Provision for Tax
Current Tax 0.00 0.00
Fringe Benefit Tax 0.00 0.00
Deferred Tax 1.99 (7.31)
Less: Exceptional items (1.70) (30.98)
Net Profit/ (Loss) after Tax &
Adjustments (6.78) (28.07)
PERFORMANCE
Your Directors hereby inform that your Company has not recorded any
income from gross sale as compared to Rs. 40.53 lacs in the previous
year. The Company incurred loss of Rs. 6.78 lacs as compared to that
of Rs. 28.07 lacs incurred in the previous year. Your Directors are
hopeful of achieving better results in the current year.
DIVIDEND
Keeping in view, the financial results of the Company, for the year
under review, your Directors regret their inability to declare any
dividend.
MARKETING STRATEGY
Your Company is making efforts to diversify the range of products for
the Global Market. Your Directors foresee a good market in future, in
land and overseas. The market development of its products are now in
place which will enable the Company to exploit its full potential in
the coming year.
FUTURE OUTLOOK
The future strategy of the Company is as follows:
i) To increase production of the products
ii) To start catering to higher value added products
iii) To reduce costs with the increase level of production
The Company has long term and short term plans for new products,
marketing strategies and tie up with other entities which are being
implemented from time to time. Implementation of new plans will make
possible for your Company to achieve the targets above par.
It is expected that while the growth in profitability would be a
challenge, the concrete plans and strategies which are afoot should see
growth in turnover and profits in the years to come.
FINANCE
Your Directors are pleased to announce that your Company is a Zero Debt
Company and it does not have any liability for loans and interest
burden thereof.
SHARE CAPITAL & LISTING
Your Directors are pleased to announce that your Company has obtained
connectivity with Central Depository Services Limited (CDSL) and
National Depository Services Limited (NSDL) to provide facilities to
all members, investors and shareholders and to hold the shares in
dematerialised form. Equity shares of the Company can be held in
electronic form with any depository participant (DP) with whom Members
/ Investors have their Demat Accounts. The Equity Shares of the Company
are listed and being traded with the Bombay Stock Exchange.
DIRECTORS
In accordance with Section 256 of the Companies Act, 1956 and the
Articles of Association of the Company, Mr. Manish Sinvhal and Mr.
Manish Maheshwari will retire by rotation at the ensuing Annual General
Meeting and being eligible, offer themselves for re-appointment.
Mr. Vikram Khandelwal, Mr. Sushil Chokhani and Mr. Dayaram Dhoot,
Directors of the Company continue to hold Directorship in the Company.
DIRECTORS'' RESPONSIBILITY STATEMENT
Pursuant to the requirement under Section 217 (2AA) of the Companies
Act, 1956, the Directors of the Company confirm that:
(i) That in the preparation of the annual accounts for the financial
Period ended 31st March, 2013 the applicable accounting standards have
been followed along with proper explanation relating to material
departures;
(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 at the end of the financial Period;
(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, 1956 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 financial
Period ended 31st March, 2013 on a going concern basis.
DEPOSITS
Your Company has, during the year, not accepted any public deposit
within the meaning of the provisions of section 58 A of the Companies
Act, 1956.
COMPANY SECRETARY
During the year Ms. Varsha Jain resigned as Company Secretary w.e.f
31st December, 2012. The Company is making efforts to find a suitable
replacement for her.
AUDITORS AND THEIR REPORT
M/s. Nahata Mahajan & Co., Chartered Accountants, Indore retire at the
conclusion of the ensuing Annual General Meeting and have confirmed
their eligibility and willingness to accept office, if re-appointed.
The Board proposes their re-appointment as Statutory Auditors to audit
the accounts of the Company for the year 2013-2014. You are requested
to consider their re-appointment.
CORPORATE GOVERNANCE
Your Company is committed to follow the guidelines of SEBI and Stock
Exchanges from time to time. Your Company implemented most of its major
stipulation as applicable to the Company. The Statutory Auditors''
certificate dated 2nd September, 2013 in accordance with clause 49 of
Listing agreement and a report on Corporate Governance is annexed
hereto and forming part of the Directors'' Report.
STATUTORY INFORMATION A. CONSERVATION OF ENERGY
The Particulars required under Section 217 (1) (e) of the Companies
Act, 1956 read with the Companies (Disclosure of particulars in the
report of the Board of Directors) Rules, 1988 are not applicable to the
Company. However, considering the importance of conservation of energy
and the benefits derived out of it, the Company has introduced various
measures that involve the conservation. The measures adopted including
using power savers wherever possible, less power consuming electrical
fittings etc.
The employees are also made aware of the advantages of conserving power
and to implement it by using natural lighting and ventilation wherever
possible. However, the Company has not incurred any major expenditure
on this account.
B. FOREIGN EXCHANGE EARNINGS AND OUTGO
During the year under review, transactions in Foreign Exchange are as
under:
Foreign Exchange Earnings : Nil (Previous Year - Nil)
Foreign Exchange Outgo : Nil (Previous Year - Nil)
C. RESEARCH AND DEVELOPMENT (R&D). TECHNOLOGY ABSORPTION. ADAPTATION
& INNOVATION
The Company has neither carried out any Research and Development
activities nor absorbed/adapted/innovated any Technology during the
financial year under review. Hence, the Company has not incurred any
expenditure under this category.
D. PARTICULARS OF EMPLOYEES
During the year under review, there were no employees drawing
remuneration of Rs. 60,00,000 p.a. or Rs. 5,00,000/- p.m. or more.
Hence there is no information to be provided in accordance to Section
217 (2 A) of the Companies Act, 1956 read with the Companies
(Particulars of employees) Rule 1975.
HUMAN RESOURCE
Your Company believes in the philosophy of communicating with the
entire team in a two way process. Company also believes in the
principal of proper delegation of authority which results in uplift of
Commitment level, responsibility and accountability of entire team
right from Managing Director to Lowest level of administration. Every
effort is made to implement the suggestions received and to encourage
staff for more suggestions and discussions for ongoing improvement.
ACKNOWLEDGEMENT
Your Directors wishes to place on record their sincere thanks to the
valuable clients, vendors, investors, banks, business associates,
consultants and advisors for their keen involvement with the
Company''s affairs and business and look forward for their continued
support in the future.
Your Directors make a special mention and their deep sense of
appreciation to the employees of the Company for their continued effort
and contribution for the potential growth of the Company.
FOR AND ON BEHALF OF THE BOARD OF DIRECTORS OF
TRANS ASIA CORPORATION LIMITED
Sd/- Sd/-
(DAYARAM DHOOT) (VIKRAM KHANDELWAL)
CHAIRMAN MANAGING DIRECTOR
REGISTERED OFFICE:
110, ROYAL RATAN,
7, M. G. ROAD,
INDORE-452 001
DATE: 2nd SEPTEMBER, 2013
Mar 31, 2012
To, The Members,
The Directors take pleasure in presenting the 18th Annual Report on
the business and operations of the Company alongwilh the Audited
Statement of Accounts of your Company for the financial year ended 31st
March. 2012.
FINANCIAL RESULTS
Financial summary of the Company for the year under review along with
figures for previous year are as follows:
(Rs. in Lacs)
Particulars 31.03.2012 31.03.2011
Sales & Other Income 40.53 1069.27
Profit/(Loss) before depreciation (3.37) (20.45)
Less: Depreciation 1.03 0.73
Profit/ (Loss) before Tax (4.41) (21.19)
Less: Provision for Tax
Current Tax 0.00 0.00
Fringe Benefit Tax 0.00 0.00
Deferred Tax (7.31) 0.06
Less: Exceptional items (30.98) 0.00
Net Profit/ (Loss) after Tax & Adjustments (28.07) (21.25)
PERFORMANCE
Your Directors hereby inform that your Company has recorded a lower
gross sale from operations of Rs. 40.53 lacs as compared to Rs. 1069.27
lacs in the previous year. The Company incurred loss of Rs. 28.07 lacs
as compared to that of Rs. 21.25 incurred in the previous year. Your
Directors are hopeful of achieving better results in the current year.
DIVIDEND
Keeping in view, the financial results of the Company, for the year
under review, your Directors regret their inability to declare any
dividend.
MARKETING STRATEGY
Your Company is making efforts to diversify the range of products for
the Global Market Your Directors foresee a good market in future, in
land and overseas.
FUTURE PROSPECTS AND CHALLENGES
As discussed earlier, we have been passing through an era of great
changes. The World Economy is so frequently undergoing changes that
experts are unable to foresee correctly or near to change.
Yet, it is sure that whatever changes are taking place, are meant for
progress and promoting healthy competition world wide. It is also
correct that the developed and controlling nations are coming up with
policies which may not be that fruitful to the other nations like us.
Your Company could not be an exception to it out with regular watch and
control over the situation, the Company has been trying to do better.
The Company has long term and short term plans for new products,
marketing strategies and tie up with other entities which are being
implemented from time to time. Implementation of new plans will make
possible for your Company to achieve the targets above par. Because of
administrative constraints, the partnership firm M/s. Asia Pacific
Exports has not undertaken activities during the year under review.
Your Company is likely to go for Bank finance for Working Capital to
take utmost advantage of opportunities available in the Market and to
enhance the overall activity.
Taking into the account all the above, it is expected that while the
growth in profitability would be a challenge, the concrete plans and
strategies which are afoot should see growth in turnover and profits in
the years to come.
FINANCE
Your Directors are pleased to announce that your Company is a Zero Debt
Company and it does not have any liability for loans and interest
burden thereof.
SHARE CAPITAL & LISTING
Your Directors are pleased to announce that your Company has obtained
connectivity with Central Depository Services Limited (CDSL) and
National Depository Services Limited (NSDL) to provide facilities to
all members, investors and shareholders and to hold the shares in
dematerialised form. Equity shares of the Company can be held in
electronic form with any depository participant (DP) with whom Members
/ Investors have their Demat Accounts. The Equity Shares of the Company
are listed and being traded with the Bombay Stock Exchange.
DIRECTORS
In accordance with Section 256 of the Companies Act, 1956 and the
Articles of Association of the Company, Mr. Dayaram Dhoot and Mr.
Sushil Kumar Chokhani will retire by rotation at the ensuing Annual
General Meeting and being eligible, offer themselves for re-
appointment.
The Board at its Meeting held on 3rd September, 2012 had approved,
subject to the approval of shareholders, the re-appointment of Mr.
Vikram Khandelwal as the Managing Director of the Company with effect
from 6th August, 2012 on the same terms and conditions of remuneration
as were paid to him earlier. The necessary Resolution for the approval
of the same is covered in the Notice convening the Annual General
Meeting.
Mr. Manish Maheshwari, and Mr. Manish Sinvhal, Directors of the Company
continue to hold Directorship in the Company.
DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to the requirement under Section 217 (2AA) of the Companies
Act, 1956, the Directors of the Company confirm that:
(i) That in the preparation of the annual accounts for the financial
Period ended 31st March, 2012 the applicable accounting standards have
been followed along with proper explanation relating to material
departures;
(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 at the end of the financial Period;
(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, 1956 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 financial
Period ended 31st March, 2012 on a going concern basis.
DEPOSITS
Your Company has, during the year, not accepted any public deposit
within the meaning of the provisions of section 58 A of the Companies
Act, 1956.
COMPANY SECRETARY
During the year Mr. Ramprakash Shroff resigned and Ms. Varsha Jain was
appointed as Company Secretary of the Company w.e.f 31st October, 2011
and 1st February, 2012 respectively.
AUDITORS AND THEIR REPORT
M/s. Nahata Mahajan & Co., Chartered Accountants, Indore retire at the
conclusion of the ensuing Annual General Meeting and have confirmed
their eligibility and willingness to accept office, if re-appointed.
The Board proposes their re-appointment as Statutory Auditors to audit
the accounts of the Company for the year 2012-2012. You are requested
to consider their re-appointment.
CORPORATE GOVERNANCE
Your Company is committed to follow the guidelines of SEBI and Stock
Exchanges from time to time. Your Company implemented most of its major
stipulation as applicable to the Company. The Statutory Auditors'
certificate dated 3rd September, 2012 in accordance with clause 49 of
Listing agreement and a report on Corporate Governance is amiexed
hereto and forming part of the Directors' Report.
STATUTORY INFORMATION
A. CONSERVATION OF ENERGY
The Particulars required under Section 217 (1) (e) of the Companies
Act, 1956 read with the Companies (Disclosure of particulars in the
report of the Board of Directors) Rules, 1988 are not applicable to the
Company. However, considering the importance of conservation of energy
and the benefits derived out of it, the Company has introduced various
measures that involve the conservation. The measures adopted including
using power savers wherever possible, less power consuming electrical
fittings etc.
The employees are also made aware of the advantages of conserving power
and to implement it by using natural lighting and ventilation wherever
possible. However, the Company has not incurred any major expenditure
on this account.
B. FOREIGN EXCHANGE EARNINGS AND OUTGO
During the year under review, transactions in Foreign Exchange are as
under:
Foreign Exchange Earnings : Nil (Previous Year - Nil)
Foreign Exchange Outgo : Nil (Previous Year - Nil)
C. RESEARCH AND DEVELOPMENT (R&D). TECHNOLOGY ABSORPTION, ADAPTATION &
INNOVATION
The Company has neither carried out any Research and Development
activities nor absorbed/adapted/innovated any Technology during the
financial year under review. Hence, the Company has not incurred any
expenditure under this category.
D. PARTICULARS OF EMPLOYEES
During the year under review, there were no employees drawing
remuneration of Rs. 60,00,000 p.a. or Rs. 5,00,000/- p.m. or more.
Hence there is no information to be provided in accordance to Section
217 (2A) of the Companies Act, 1956 read with the Companies
(Particulars of employees) Rule 1975.
HUMAN RESOURCE
Your Company believes in the philosophy of communicating with the
entire team in a two way process. Company also believes in the
principal of proper delegation of authority which results in uplift of
Commitment level, responsibility and accountability of entire team
right from Managing Director to Lowest level of administration. Every
effort is made to implement the suggestions received and to encourage
staff for more suggestions and discussions for ongoing improvement.
ACKNOWLEDGEMENT
Your Directors wishes to place on record their sincere thanks to the
valuable clients, vendors, investors, banks, business associates,
consultants and advisors for their keen involvement with the Company's
affairs and business and look forward for their continued support in
the future.
Your Directors make a special mention and their deep sense of
appreciation to the employees of the Company for their continued effort
and contribution for the potential growth of the Company.
FOR AND ON BEHALF OF THE BOARD OF DIRECTORS OF
TRANS ASIA CORPORATION LIMITED
Sd/- Sd/-
(DAYARAM DHOOT) (VIKRAM KHANDELWAL)
CHAIRMAN MANAGING DIRECTOR
REGISTERED OFFICE:
110, ROYAL RATAN,
7, M. G. ROAD,
INDORE - 452 001
DATE: 3rd SEPTEMBER, 2012
Mar 31, 2011
The Directors take pleasure in presenting the 17th Annual Report on
the business and operations of the Company along with the Audited
Statement of Accounts of your Company for the financial year ended 31st
March, 2011.
FINANCIAL RESULTS
Financial summary of the Company for the year under review along with
figures for previous year are as follows:
(Rs.in Lacks) .
Particulars 31.03.2011 31.03.2010
Sales & Other Income 1069.27 3837.12
Profit/ (Loss) before depreciation (20.45) 3.15
Less: Depreciation 0.73 0.81
Profit/ (Loss) before Tax (21.19) 2.33
Less: Provision for Tax Current Tax 000 0.37
Fringe Benefit Tax OCX) 000 0.03
Deferred Tax_ O.06 0.12
Net Profit/ (Loss) after Tax & Adjustments (21.25) 1.82
Profit/(Loss) brought forward /
Prior period adjustment 157.59 155.77
Transfer to General Reserve
Balance carried forward to Balance sheet 136.34 157.59
PERFORMANCE
Your Directors hereby inform that your Company has recorded a lower
gross sale from operations of Rs. 1069.27 lacks as compared to Rs.
3837.12 lacks in the previous year. The Company incurred loss of Rs.
21.25 lacks as compared to profit of Rs. 1.82 lacks earned in the
previous year. Your Directors are hopeful of achieving better results
in the current year.
DIVIDEND
Keeping in view, the financial results of the Company, for the year
under review, your Directors regret their inability to declare any
dividend.
MARKETING STRATEGY
Your Company is making efforts to diversify the range of products for
the Global Market Your Directors foresee a good market in future, in
land and overseas.
FUTURE PROSPECTS AND CHALLENGES
As discussed earlier, we have been passing through an era of great
changes. The World Economy is so frequently undergoing changes that
experts are unable to foresee correctly or near to change.
Yet, it is sure that whatever changes are taking place, are meant for
progress and promoting healthy competition world wide. It is also
correct that the developed and controlling nations are coming up with
policies which may not be that fruitful to the other nations like us.
Your Company could not be an exception to it but with regular watch and
control over the situation, the Company has been trying to do better.
The Company has long term and short term plans for new products,
marketing strategies and tie up with other entities which are being
implemented from time to time. Implementation of new plans will make
possible for your Company to achieve the targets above par. Because of
administrative constraints, the partnership firm M/s. Asia Pacific
Exports has not undertaken activities during the year under review.
Your Company is likely to go for Bank finance for Working Capital to
take utmost advantage of opportunities available in the Market and to
enhance the overall activity.
Taking into the account all the above, it is expected that while the
growth in profitability would be a challenge, the concrete plans and
strategies which are afoot should see growth in turnover and profits in
the years to come.
FINANCE
Your Directors are pleased to announce that your Company is a Zero Debt
Company and it does not have any liability for loans and interest
burden thereof.
SHARE CAPITAL & LISTING
Your Directors are pleased to announce that your Company has obtained
connectivity with Central Depository Services Limited (CDSL) and
National Depository Services Limited (NSDL) to provide facilities to
all members, investors and shareholders and to hold the shares in
dematerialized form. Equity shares of the Company can be held in
electronic form with any depository participant (DP) with whom Members
/ Investors have their Demate Accounts. The Equity Shares of the Company
are listed and being traded with the Bombay Stock Exchange.
DIRECTORS
In accordance with Section 256 of the Companies Act, 1956 and the
Articles of Association of the Company,
Mr. Manish Sinvhal and Mr. Vikram Khandelwal will retire by rotation at
the ensuing Annual General Meeting and being eligible, offer themselves
for re-appointment.
Mr. Manish Maheshwari, Mr. Sushil Kumar Chokhani and Mr. Dayaram Dhoot,
Directors of the Company continue to hold Directorship in the Company.
DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to the requirement under Section 217 (2AA) of the Companies
Act, 1956, the Directors of the Company confirm that:
(i) That in the preparation of the annual accounts for the financial
Period ended 31st March, 2011 the applicable accounting standards have
been followed along with proper explanation relating to material
departures;
(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 at the end of the financial Period;
(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, 1956 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 financial
Period ended 31st March, 2011 on a going concern basis.
DEPOSITS
Your Company has, during the year, not accepted any public deposit
within the meaning of the provisions of section 58 A of the companies
Act, 1956.
AUDITORS AND THEIR REPORT
M/s. Nahata Mahajan & Co., Chartered Accountants, Indore retire at the
conclusion of the ensuing Annual General Meeting and have confirmed
their eligibility and willingness to accept office, if re-appointed.
The Board proposes their re-appointment as Statutory Auditors to audit
the accounts of the Company for the year 2011 -2012. You are requested
to consider their re-appointment.
CORPORATE GOVERNANCE
Your Company is committed to follow the guidelines of SEBI and Stock
Exchanges from time to time Your Company implemented most of its major
stipulation as applicable to the Company. The Statutory Auditors'
certificate dated 26th August, 2011 in accordance with clause 49 of
Listing agreement and a report on Corporate Governance is annexed
hereto and forming part of the Directors' Report.
STATUTORY INFORMATION
A, CONSERVATION OF ENERGY
The Particulars required under Section 217 (1) (e) of the Companies
Act, 1956 read with the Companies (Disclosure of particulars in the
report of the Board of Directors) Rules, 1988 are not applicable to the
Company. However, considering the importance of conservation of energy
and the benefits derived out of it, the Company has introduced various
measures that involve the conservation. The measures adopted including
using power savers wherever possible, less power consuming electrical
fittings etc.
The employees are also made aware of the advantages of conserving power
and to implement it by using natural lighting and ventilation wherever
possible. However, the Company has not incurred any major expenditure
on this account.
B, FOREIGN EXCHANGE EARNINGS AND OUTGO
During the year under review, transactions in Foreign Exchange are as
under: Foreign Exchange Earnings: Nil (Previous Year - Nil) Foreign
Exchange Outgo : Nil (Previous Year - Nil)
C, RESEARCH AND DEVELOPMENT (R&D). TECHNOLOGY ABSORPTION. ADAPTATION &
INNOVATION
The Company has neither carried out any Research and Development
activities nor absorbed/adapted/ innovated any Technology during the
financial year under review. Hence, the Company has not incurred any
expenditure under this category.
D, PARTICULARS OF EMPLOYEES
During the year under review, there were no employees drawing
remuneration of Rs. 60,00,000 p.a. or Rs. 5,00,000/- p.m. or more.
Hence there is no information to be provided in accordance to Section
217 (2A) of the Companies Act, 1956 read with the Companies
(Particulars of employees) Rule 1975.
HUMAN RESOURCE
Your Company believes in the philosophy of communicating with the
entire team in a two way process. Company also believes in the
principal of proper delegation of authority which results in uplift of
Commitment level, responsibility and accountability of entire team
right from Managing Director to Lowest level of administration. Every
effort is made to implement the suggestions received and to encourage
staff for more suggestions and discussions for ongoing improvement.
ACKNOWLEDGEMENT
Your Directors wishes to place on record their sincere thanks to the
valuable clients, vendors, investors, banks, business associates,
consultants and advisors for their keen involvement with the Company's
affairs and business and look forward for their continued support in
the future.
Your Directors make a special mention and their deep sense of
appreciation to the employees of the Company for their continued effort
and contribution for the potential growth of the Company.
FOR AND ON BEHALF OF THE BOARD OF DIRECTORS OF
TRANS ASIA CORPORATIONLIMITED
Sd/- Sd/-
(DAYARAMDHOOT) (VIKRAM KHANDELWAL)
CHAIRMAN MANAGING DIRECTOR
REGISTERED OFFICE :
110, ROYAL RATAN,
7, M. G. ROAD,
INDORE - 452 001
DATE: 26th AUGUST, 2011
Mar 31, 2010
The Directors take pleasure in presenting the 16th Annual Report on
the business and operations of the Company alongwith the Audited
Statement of Accounts of your Company for the financial year ended 31
st March, 2010.
FINANCIAL RESULTS
Financial summary of the Company for the year under review along with
figures for previous year are as follows:
(Rs. in Lacs)
Particulars 31.03.2010 31.03.2009
Sales & Other
Income 3837.12 9799.86
Profit/ (Loss) before
depreciation 3.15 27.73
Less:
Depreciation 0.81l 0.90
Profit/ (Loss) before
Tax 2.33 26.83
Less: Provision for Tax
Current
Tax 037 1.51
Fringe Benefit
Tax 0.03 0.06
Deferred
Tax 0.12 0.24
Net Profit/ (Loss) after Tax &
Adjustments 1.82 25.02
Profit/ (Loss) brought
forward / Prior period
adjustment 155.77 130.75
Transfer to General Reserve
Balance carried forward to Balance Sheet 157.59 155.77
PERFORMANCE
Your Directors hereby inform you that your Company has recorded a lower
gross sale and Income from operations of Rs. 3837.12 lacs as compared
to Rs. 9799.86 lacs in the previous year. The Company earned a net
profit of Rs. 1.82 lacs as compared to that of Rs. 25.02 lacs earned in
the previous year. Your Directors are hopeful of achieving better
results in the current year.
DIVIDEND
In the interest of the Company, your Directors wish not to recommend
any dividend for the year and the entire surplus is proposed to be
transferred to the reserves to give financial leverage to the Company
for its proposed projects discussed in the report.
MARKETING STRATEGY
Your Company is making efforts to diversify the range of products for
the Global Market though in the Domestic Market, the share of the
Company has increased. Your Directors foresee a good market in future,
in land and overseas.
FUTURE PROSPECTS AND CHALLENGES
As discussed earlier, we have been passing through an era of great
changes. The World Economy is so frequently undergoing changes that
experts are unable to foresee correctly or near to change.
Yet, it is sure that whatever changes are taking place, are meant for
progress and promoting healthy competition world wide. It is also
correct that the developed and controlling nations are coming up with
policies which may not be that fruitful to the other nations like us.
Your Company could not be an exception to it but with regular watch and
control over the situation, the Company has been growing up. The
Company has long term and short term plans for new products, marketing
strategies and tie up with other entities which are being implemented
from time to time. Implementation of new plans has made possible for
your Company to achieve the targets above par. Your Company in a
position to declare dividend but as said above, to bring in strength
within the Company, it is being not recommended. The Partnership Firm
M/s Asia Pacific Exports did well during the year under review.
Your Company has now decided to go for Bank finance for Working Capital
to take utmost advantage of opportunities available in the Market and
to enhance the overall activity.
Taking into the account all the above, it is expected that while the
growth in profitability would be a challenge, the concrete plans and
strategies which are afoot should see growth in turnover and profits in
the years to come.
FINANCE
Your Directors are pleased to announce that your Company is a Zero Debt
Company and it does not have any liability for loans and interest
burden thereof.
SHARE CAPITAL & LISTING
Your Directors are pleased to announce that your Company has obtained
connectivity with Central Depository Services Limited (CDSL) and
National Depository Services Limited (NSDL) to provide facilities to
all members, investors and shareholders and to hold the shares in
dematerialised form. Equity shares of the Company can be held in
electronic form with any depository participant (DP) with whom Members
/ Investors have their Demat Accounts. The Equity Shares of the Company
are listed and being traded with the Bombay Stock Exchange.
DIRECTORS
In accordance with Section 256 of the Companies Act, 1956 and the
Articles of Association of the
Company, Mr. Manish Maheshwari and Mr. Sushil Kumar Chokhani will
retire by rotation at the ensuing Annual General Meeting and being
eligible, offer themselves for re-appointment.
Mr. Rajeev Khandelwal who had been appointed as Wholetime Director of
the Company resigned from Directorship of the Company w.e.f. 27th
December, 2009 due to pre-occupation of work and personal commitments.
The Board placed on record appreciation on the contribution of Mr.
Rajeev Khandelwal during his tenure as Director of the Company.
Mr. Vikram Khandelwal, Managing Director, Mr. Manish Maheshwari and Mr.
Dayaram Dhoot, Directors of the Company continue to hold Directorship
in the Company.
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to the requirement under Section 217 (2AA) of the Companies
Act, 1956, the Directors of the Company confirm that:
(i) That in the preparation of the annual accounts for the financial
Period ended 31st March 2010, the applicable accounting standards have
been followed along with proper explanation relating to material
departures;
(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 at the end of the financial Period;
(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, 1956 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 financial
Period ended 31st March 2010 on a going concern basis.
DEPOSITS
Your Company has, during the year, not accepted any public deposit
within the meaning of the provisions of section 58 A of the companies
Act, 1956.
AUDITORS AND THEIR REPORT
M/s. Nahata Mahajan & Co., Chartered Accountants, Indore retire at the
conclusion of the ensuing Annual General Meeting and have confirmed
their eligibility and willingness to accept office, if re-appointed.
The Board proposes their re-appointment as Statutory Auditors to audit
the accounts of the Company for the year 2010-2011. You are requested
to consider their re-appointment.
CORPORATE GOVERNANCE
Your Company is committed to follow the guidelines of SEBI and Stock
Exchanges from time to time Your
Company implemented all of its major stipulation as applicable to the
Company. The Statutory Auditors certificate dated 24th August, 2010 in
accordance with clause 49 of Listing agreement and a report on
Corporate Governance is annexed hereto and forming part of the
Directors Report.
STATUTORY INFORMATION
A. CONSERVATION OF ENERGY
The Particulars required under Section 217 (1) (e) of the Companies
Act, 1956 read with the Companies (Disclosure of particulars in the
report of the Board of Directors) Rules, 1988 are not applicable to the
Company. However, considering the importance of conservation of energy
and the benefits derived out of it, the Company has introduced various
measures that involve the conservation. The measures adopted including
using power savers wherever possible, less power consuming electrical
fittings etc.
The employees are also made aware of the advantages of conserving power
and to implement it by using natural lighting and ventilation wherever
possible. However, the Company has not incurred any major expenditure
on this account.
B. FOREIGN EXCHANGE EARNINGS AND OUTGO
During the year under review, transactions in Foreign Exchange are as
under:
Foreign Exchange Earnings : Nil (Previous Year - Nil)
Foreign Exchange Outgo : Nil (Previous Year - Nil)
C. RESEARCH AND DEVELOPMENT (R&D), TECHNOLOGY ABSORPTION, ADAPTATION &
INNOVATION
The Company has neither earned out any Research and Development
activities nor absorbed/adapted/ innovated any Technology during the
financial year under review. Hence, the Company has not incurred any
expenditure under this category.
D. PARTICULARS OF EMPLOYEES
During the year under review, there were no employees drawing
remuneration of Rs. 24,00,000 p.a. or Rs. 2,00,000 p.m. or more. Hence
there is no information to be provided in accordance to Section 217
(2A) of the Companies Act, 1956 read with the Companies (Particulars of
employees) Rule 1975.
HUMAN RESOURCE
Your Company believes in the philosophy of communicating with the
entire team in a two way process. Company also believes in the
principal of proper delegation of authority which results in uplift of
Commitment level, responsibility and accountability of entire team
right from Managing
Director to Lowest level of administration. Every effort is made to
implement the suggestions received and to encourage staff for more
suggestions and discussions for ongoing improvement.
ACKNOWLEDGEMENT
Your Directors wishes to place on record their sincere thanks to the
valuable clients, vendors, investors, banks, business associates,
consultants and advisors for their keen involvement with the Companys
affairs and business and look forward for their continued support in
the future.
Your Directors make a special mention and their deep sense of
appreciation to the employees of the Company for their continued effort
and contribution for the potential growth of the Company.
FOR AND ON BEHALF OF THE BOARD OF DIRECTORS OF
TRANS ASIA CORPORATION LIMITED
Sd/- Sd/-
(DAYARAMDHOOT) (VIKRAM KHANDELWAL)
DIRECTOR MANAGING DIRECTOR
REGISTERED OFFICE:
110, ROYAL RATAN, 7, M. G. ROAD,
INDORE-452001
DATE: 24th AUGUST, 2010