Mar 31, 2014
Dear Members,
The Directors have pleasure in presenting the 26th Annual Report on the
business, operations and financial performance of the company during
the financial year ended 31st March 2014.
FINANCIAL RESULTS (Rs. In lacs)
Particulars For The Year Ended
31st March 31st March
2014 2013
Sales/Operating Income 107.08 177.18
Other Income - -
Expenses:-
Purchase of Stock in trade 96.12 161.13
Changes in Inventories of Stock in Trade - -
Employee Benefit Expenses 4.93 6.87
Depreciation and Amortisation Expenses - -
Administrative & Other expenses 4.74 8.91
Profit Before Tax 1.29 0.26
Less:
Current Year Tax 0.39 0.08
Deferred Tax - -
Profit/(Loss) after tax 0.90 0.18
BUSINESS REVIEW
The year has ended with a Net Profit of Rs. 90,018/- as against Net
Profit of Rs. 18,238/- of last year. The Company is exploring avenues
for business opportunities and wish to enter in new area of activity.
The Company is trying its best to keep its expenses in check in spite
of inflationary trends and to revive the business of the Company.
Barring unforeseen circumstances- we expect better performance in the
current year.
FUTURE OUTLOOK
The outlook of the economic growth across the globe with positive
vibrations will fuel a growth and demand recovery. At the present
moment there is a lull in the market and the management is looking
forward for changing situation in the global market. While optimism
rears for new vigour and thrust like emphasis on colour ways and new
designs, it is expected these changes will bring in positive response
from the overseas buyers and will trigger growth and profitability in
due course of time.
DIVIDEND
The Board is of the view that the Company should utilize its funds
towards the operations to accelerate the growth rate. Accordingly the
Board does not recommend any dividend payment for the year 2013-14.
PUBLIC DEPOSIT SCHEME
Your Company has neither invited nor accepted any deposits from public
within the meaning of Section 58A and 58 AA of the Companies Act, 1956
read with Companies (Acceptance of Deposit) Rules, 1975 during the year
under review.
CORPORATE GOVERNANCE
Your Company is committed to maintain the highest standards of
Corporate Governance. Your Director adhere to the stipulations set out
in the Listing Agreement with the Stock Exchanges and have implemented
all the prescribed requirements.
A separate report on Corporate Governance as stipulated, under Clause
49 of the listing Agreement, with the Stock Exchanges and have
implemented all the prescribed requirements.
A certificate from the auditors of the company M/s SNMG & Co; Chartered
Accountants confirming compliance of conditions of Corporate Governance
as stipulated in Clause 49 is annexed to this report.
DIRECTORS
Your board has a Non-Executive Chairman and the number of Independent
Directors is half of the total strength of Directors. The composition
of the board is in conformity of Clause 49 of the Listing Agreement.
Your board of directors consist of the following four directors:
1. Mr. Sunil Kumar Agarwal (Managing Director)
2. Mr. Amit Agarwal (Non-Executive Director)
3. Mr. Vinod Kumar Jain (Non-Executive Independent Director); and
4. Mr. Santosh Kumar Yadav (Non-Executive Independent Director)
5. Mrs Payal Agarwal (Non-Executive Director)
AUDITORS AND THEIR REPORT
M/s SNMG & Co., Chartered Accountants, Chartered Accountants, who
served as Statutory Auditors of the company since a long time, resigned
from the position w.e.f. 30th September, 2014, expressing their
inability to continue as the Statutory Auditors of the Company. In
their replacement, M/s DEEPAK I P AGARWAL & CO., CHARTERED ACCOUNTANTS,
will be appointed as Statutory Auditors of the Company with approval of
shareholders of the company by way of ordinary resolution passed in its
Annual General Meeting.
The board recommends their appointment as statutory auditors of the
company.
SUBSIDIARIES
As on 31st March 2014, the Company has three Wholly Owned Subsidiary
namely Xenon Tradecom Limited, JBD Estates Limited and Aglow Steels
Limited respectively.
Consolidated Accounts of its subsidiaries for the year under review has
also been drawn in accordance with applicable accounting Standards.
CONSOLITED FINANCIAL STATEMENT
As required under the Listing Agreements with the Stock Exchanges
Consolidated Financial Statements of the Company are attached. The
consolidated Financial statements have been prepared in accordance with
Accounting standard 21, Accounting standard 23 and Accounting standard
27 issued by The Institute of Chartered Accountants of India and
showing the financial resources, assets, liabilities, income, profits
and other details of the Company and its subsidiaries as a single
entity, after elimination of minority interest
CORPORATE GOVERNANCE
A separate section on Corporate Governance together with a certificate
from the Company''s auditors confirming the compliance of conditions of
Corporate Governance as stipulated in Clause 49 of the listing
agreement with the Stock Exchanges is annexed hereto.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
Management Discussion and Analysis Report as required under Clause 49
of the Listing Agreement with the Stock Exchanges is given in
Annexure-A and forms an integral part of this report.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE
EARN-INGS AND OUTGO
The information pertaining to conservation of energy, technology
absorption, foreign exchange earnings & outgo, as required under the
Companies Act, 2013, read with the Draft Companies Rules, 2013 is given
as per Annexure- B & forms part of the Directors Report.
DIRECTORS'' RESPONSIBILITY STATEMENT
In Accordance with the provisions of Section 134(5) (Corresponding to
Section 217(2AA) of the Companies Act, 1956) the Board confirms &
submits the Director''s Responsibility Statement:-
i) in the preparation of the annual accounts, the applicable accounting
standards have been followed and that no material departures have been
made from the same;
ii) they 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 year and of the profit or loss
of the company for that period;
iii) they have taken proper and sufficient care for the maintenance of
adequate accounting records 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.
PARTICULARS OF EMPLOYEES
As required under section 217(2A) of the Companies Act, 1956 read with
the Companies (Particulars of Employees) Rules, 1975 as amended time to
time, no employee of the company was covered by these provisions during
the year ended 31.03.2014.
ACKNOWLEDGEMENT
Your Directors wish to place on record their appreciation for the
co-operation extended to the company by commercial banks, business
associates, shareholders, customers and executives.
On behalf of the Board of Directors
For TRIDEV INFRAESTATES LIMITED
Sd/- Sd/-
Place : Delhi Sunil Kumar Agarwal Vinod Kumar Jain
Dated : 14.08.2014 (Managing Director) (Director)
DIN: 00033287 DIN: 01943778
Mar 31, 2013
To The Member of Ashutosh Paper Mills Limited.
The Directors have pleasure in presenting the 25th Annual Report on
the business, operations and financial performance of the company
during the financial year ended 31st March 2013.
FINANCIAL RESULTS
(Rs. In lacs)
Particulars For the Year Ended
31st March
2013 31st March,
2012
Sales/Operating Income 177.18 1032.08
Other Income Expenses:-
Purchase of Stock in trade 161.13 1009.88
Changes in Inventories of Stock In Trade - -
Employee Benefit Expenses 6.87 7.58
Depreciation and Amortisation Expenses - -
Administrative & Other expenses 8.91 9.07
Gross Profit/ (Loss) after interest
but before depreciation & taxation 0.26 5.55
Less: Previous Year Tax - (2.23)
Less: Current Year Tax 0.08 1.18
Profit (Loss) after tax 0.18 6.60
BUSINESS REVIEW
The performance of the company during the year under review has been
declined due to lower turnover. During the year company has achieved
turnover of Rs. 177.18 Lacs and after tax profit of Rs. 0.18 Lacs against
turnover of Rs. 1032.08 Lacs and profit after tax of Rs. 6.60 Lacs in the
corresponding previous year.
CORPORATE GOVERNANCE
Your Company is committed to maintain the highest standards of
Corporate Governance. Your Director adhere to the stipulations set out
in the Listing Agreement with the Stock Exchanges and have implemented
all the prescribed requirements.
A separate report on Corporate Governance as stipulated, under Clause
49 of the listing Agreement, with the Stock Exchanges and have
implemented all the prescribed requirements.
A certificate from the auditors of the company M/s SNMG & Co; Chartered
Accountants confirming compliance of conditions of Corporate Governance
as stipulated in Clause 49 is annexed to this report.
DIRECTORS
Your board has a Non-Executive Chairman and the number of Independent
Directors is half of the total strength of Directors. The composition
of the board is in conformity of Clause 49 of the Listing Agreement.
Your board of directors consist of the following four directors:
1. Mr. Sunil Kumar Agarwal (Chairman and Managing Director);
2. Mr. Amit Agarwal (Executive Director);
3. Mr. Vinod Kumar Jain (Non-Executive Independent Director) and;
4. Mr. Santosh Kumar Yadav (Non-Executive Independent Director),
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to section 217 (2AA) of the companies ACT, 1956, it is hereby
confirmed:
1. That in the preparation of the accounts for the financial year
ended 31st March, 2013 the applicable accounting standards have been
followed along with proper explanation relating to material departures.
2. That the directors have 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 the company at the end of the financial year and of the
profit of the company for the year under review.
3. 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.
4. That the Directors have prepared the accounts for the financial
year ended 31st March, 2013 on a going concern basis.
AUDITORS
M/s. SNMG & Co., Chartered Accountants holds office of the Statutory
Auditors of the Company until the conclusion of the ensuing Annual
General Meeting is eligible for re-appointment.
The Company has received certificate from them to the effect that their
reappointment, if made, would be within the prescribed limits under
Section 224 (IB) of the Companies Act, 1956 and they are not
disqualified for such reappointment within the meaning of Section 226
of the said Act.
THE COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF BOARD OF
DIRECTORS) RULES, 1988
a. AUDIT COMMITTEE
As per the provisions of the Listing Agreement and pursuant to Section
292A of the Companies Act, 1956, the Audit Committee has been set up to
review the internal audit reports and financial statements at periodic
intervals.
The Audit Committee comprises following three members having strong
background in financial management-
Mr. Vinod Kumar Jain Chairman (Non-Executive Independent Director)
Mr. Sunil Kumar Agarwal Member (Executive Director)
Mr. Santosh Kumar Yadav Member (Non-Executive Director)
b. INVESTORS/SHAREHOLDERS'' GRIEVANCE COMMITTEE
In pursuance of the provisions of the Listing Agreement, the company
has also set up a Shareholders/ Investor''s Grievance Committee to
ensure maximum security to the concern of the shareholders. The
committee consists of a Non Executive Chairman and other two members of
the names as follows: Mr. Amit Agarwal Chairman
Mr. Vinod Kumar Jain Member
Mr. Santosh Kumar Yadav Member
PARTICULARS OF EMPLOYEES
As required by the provisions of section 217(2A) of the Companies Act,
1956 read with the Companies (particulars of employees) Rules, 1975, as
amended, no employee was in receipt of remuneration exceeding Rs.
60,00,000/- per annum or Rs. 5,00,000/- per month for any part thereof.
PUBLIC DEPOSITS
The company has not accepted any deposit from public within the meaning
of section 58-A of the companies ACT, 1956 read with the companies
(Acceptance of Deposits) rules, 1975.
ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUT GO
Particulars with respect to conservation of energy, Technology
absorption, Foreign Exchange Earnings & outgo as required under section
217(1)(e) of the Companies Act, 1956 read with Companies (Disclosure of
Particulars in the Report of Board of Directors) Rules, 1988 is given
in the Annexure forming part of this report.
APPRECIATION
The Company places on record its deep appreciation of the devoted
services of executives and other staff of the company who have
contributed in the performance and the Company''s inherent strength.
Grateful thanks are also due to the investors, the bankers, business
associates & all other stakeholders for their continued support to the
company from time to time.
By the Order of the Board
For ASHUTOSH PAPER MILLS LIMITED
Place : Delhi Sd/- Sd/-
Dated: 02/09/2013 (MANAGING DIRECTOR) (DIRECTOR)
Mar 31, 2010
The Directors have pleasure in presenting the 22nd Annual Report on
the business, operations and financial performance of the company
during the financial year ended 31st March 2010.
BUSINESS REVIEW
The year has ended with a net profit of Rs. 27896.08 as against Net
Profit of Rs. 13167105.00 of last year. The Company is exploring
alternative avenues for business opportunities and entered into capital
markets in current year. The Company is trying its best to keep its
expenses in check in spite of inflationary trends and to expand the
business of the Company. Baring unforeseen circumstances- we expect
better performance in the current year by trading and investing
cautiously.
DIVIDEND
In view of accumulated losses, no dividend is being recommended.
CORPORATE GOVERNANCE
Your Company is committed to maintain the highest standards of
Corporate Governance. Your Director adhere to the stipulations set out
in the Listing Agreement with the Stock Exchanges and have implemented
all the prescribed requirements.
A separate report on Corporate Governance as stipulated, under Clause
49 of the Listing Agreement, with the Stock Exchanges and have
implemented all the prescribed requirements.
A Certificate from the Auditors of the Company M/S SNMG & Co.
confirming compliance of conditions of Corporate Governance as
stipulated in Clause 49 is annexed to this report.
Listing Status: Your Company is listed on Bombay Stock Exchange, Delhi
Stock Exchange, Ahmadabad Stock Exchange and Jaipur Stock Exchange. The
company has started trading of its securities on Bombay Stock Exchange
from 23.04.2010
BOARD OF DIRECTORS
Following directors have been appointed as Additional Independent
Directors. Being eligible they offer themselves for their
re-appointment as director. As they are having vast experience &
knowledge of Stock Market, the board also recommends their
re-appointment:-
1. Mr. Vinod Kumar Jain
2. Mr. Santosh Kumar Yadav
Following directors has resigned from board:-
1. Mr. Atul Kumar Agarwal
2. Mr. Ravish Agarwal
3. Ms. Payal Agarwal
Your board has a Non-Executive Chairman and the number of Independent
Directors is half of the total strength of Directors. The composition
of the board is in conformity of Clause 49 of the Listing Agreement.
Your board of directors consist of the following four directors:-
1. Mr. Sunil Kumar Agarwal (Managing Director);
2. Mr. Amit Agarwal (Chairman and Non- Executive Director);
3. Mr. Vinod Kumar Jain (Non-Executive Independent Director) and;
4. Mr. Santosh Kumar Yadav (Non-Executive Independent Director).
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to Section 217 (2AA) of the Companies Act, 1956, it is hereby
confirmed:
1. That in the preparation of the accounts for the financial year
ended 31st March, 2010 the applicable Accounting Standards have been
followed along with proper explanation relating to material departures.
2. That the directors have 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 the company at the end of the financial year and of the
profit of the company for the year under review.
3. 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.
4. That the Directors have prepared the accounts for the financial
year ended 31st March, 2010 on a going concern basis.
AUDITORS
M/s SNMG & CO., Chartered Accountants holds office of the Statutory
Auditors of the Company until the conclusion of the ensuing Annual
General Meeting is eligible for re-appointment.
The Company has received certificate from them to the effect that their
reappointment, if made, would be within the prescribed limits under
Section 224 (IB) of the Companies Act, 1956 and they are not
disqualified for such reappointment within the meaning of Section 226
of the said Act.
THE COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF BOARD OF
DIRECTORS) RULES, 1988
In terms of the above rules, your directors are pleased to give the
particulars as prescribed therein in the annexure, which form part of
the Directors Report.
a. AUDIT COMMITTEE
As per the provisions of the Listing Agreement and pursuant to Section
292A of the Companies Act, 1956,
the Audit Committee has been set up to review the internal audit
reports and financial statements at
periodic intervals.
The Audit Committee comprises following three members having strong
background in financial
management:-
Mr. Vinod Kumar Jain Chairman (Non-Executive Independent Director)
Mr. Amit Agarwal Member (Non-Executive Director)
Mr. Santosh Kumar Yadav Member (Non Executive Independent Director)
b. INVESTORS/SHAREHOLDERS GRIEVANCE COMMITTEE
In pursuance of the provisions of the Listing Agreement, the company
has also set up a Shareholders/ Investors Grievance Committee to
ensure maximum security to the concern of the shareholders. The
committee consists of a Non Executive Chairman and other two members of
the names as follows:
Mr. Amit Agarwal Chairman (Non Executive Director)
Mr. Vinod Kumar Jain Member
Mr. Santosh Kumar Yadav Member
PARTICULARS OF EMPLOYEES
As required by the provisions of section 217(2A) of the Companies Act,
1956 read with the Companies (particulars of employees) Rules, 1975, as
amended, no employee was in receipt of remuneration exceeding Rs.
24,00,000/- per annum or Rs. 2,00,000/- per month for any part thereof.
PUBLIC DEPOSITS
The company has not accepted any deposit from public within the meaning
of section 58-A of the companies ACT, 1956 read with the companies
(Acceptance of Deposits) rules, 1975.
ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO
Particulars with respect to conservation of energy, Technology
absorption, Foreign Exchange Earnings & outgo as required under section
217(1)(e) of the Companies Act, 1956 read with Companies (Disclosure of
Particulars in the Report of Board of Directors) Rules, 1988 is given
in the Annexure forming part of this report.
APPRECIATION
The Company places on record its deep appreciation of the devoted
services of executives and other staff of the company who have
contributed in the performance and the Companys inherent strength.
Grateful thanks are also due to the investors, the bankers, business
associates & all other stakeholders for their continued support to the
company from time to time.
By the Order of the Board
For ASHUTOSH PAPER MILLS LIMITED
Sd/- Sd/-
(Amit Agarwal) (Sunil Kumar Agarwal)
Director Managing Director
Place : New Delhi
Dated : 01.09.2010
Mar 31, 2008
The Directors have pleasure in presenting the 20th Annual Report on
the, business, operations and financial performance of the company
during the financial year ended 31st March 2008.
BUSINESS REVIEW
The year has ended with a net profit of Rs. 19,820,460.08 as against
Net Profit of Rs. 25,200,718.50 of last year. The Company is exploring
alternative avenues for business! opportunities and entered into
capital markets in current year. The Company is trying its best to keep
its expenses in check in spite of inflationary trends and to expand the
business of the Company. Baring unforeseen circumstances- we expect
better performance in the current year by trading and investing
cautiously.
DIVIDEND
In view of accumulated losses, no dividend is being recommended.
CORPORATE GOVERNANCE
Your Company is committed to maintain the highest standards of
Corporate Governance. Your Director adhere to the stipulations set out
in the Listing Agreement with the Stock Exchanges and have implemented
all the prescribed requirements.
A separate report on Corporate Governance as stipulated, under Clause
49 of the Listing .Agreement, with the Stock Exchanges and have
implemented all the prescribed requirements.
A certificate from the auditors of the company M/S SNMG & CO.
confirming compliance Of conditions of Corporate Governance as
stipulated in Clause 49 is annexed to this report.
Listing Status: Your Company is listed on Bombay Stock Exchange, Delhi
Stock Exchange, Ahmadabad Stock Exchange and Jaipur Stock Exchange. At
none of the Exchanges, any trading has been recorded.
BOARD OF DIRECTORS
Your board of directors consist of Mr. Rajendra Aggarwal (C.M.D), Mr.
Sanjay Kumar, Aggarwal (Director), Ms. Sangeeta. Rani (Director), Mr.
Rakesh Kumar Aggarwal (Director), Mr. Ashok Kumar (Director), Mr. Bal
Kishan Sharma (Director)
. DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to section 217 (2AA) of the companies ACT, 1956, it is hereby
confirmed:
1. That in the preparation of the accounts for the financial year
ended 31st March, 2008 the applicable accounting standards have been
followed along with proper explanation relating to material departures.
2. That the directors have 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 the company at the end of the financial year and of the
profit of the company for the year under review.
3. 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.
4. That the Directors have prepared the accounts for the financial
year ended 31st March, 2008 on a going concern basis.
AUDITORS
M/s SNMG & CO. holds office of the statutory auditors of the company
until the conclusion of the ensuing Annual General Meeting is eligible
for reappointment.
The company has received certificate from them to the effect that their
reappointment, if made, would be within the prescribed limits under
Section 224 (IB) of the Companies Act, 1956 and they are not
disqualified for such reappointment within the meaning of Section 226
of the said Act.
THE COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF BOARD OF
DIRECTORS) RULES, 1988
In terms of the above rules, your directors are pleased to give the
particulars as prescribed therein in the annexure, which form part of
the directors reports.
a. AUDIT COMMITTEE
As per the provisions of the Listing Agreement and pursuant to Section
292A of the Companies Act, 1956, the members of the Committee consist
of Mr. Rajendra Aggarwal, Chairman cum Managing Director, Mr. Sanjay
Kumar Aggarwal, Director and Mr. Rakesh Kumar Aggarwal, Director.
b. INVESTORS / SHAREHOLDERS GRIEVANCE COMMITTEE
As per the provisions of the Listing Agreement, the members of the
Committee consist of Mr. Rajendra Aggarwal, CMD, Mr. Sanjay Kumar
Aggarwal, Director and Mr. Rakesh Kumar Aggarwal, Director.
PARTICULARS OF EMPLOYEES
As required by the provisions of section 217(2A) of the Companies Act,
1956 read with the Companies (particulars of employees) Rules, 1975,
as amended, no employee was in receipt of, remuneration exceeding Rs
24,00,000/- per annum or Rs 2.00,000/- per month for any part there of.
PUBLIC DEPOSITS
The company has not accepted any deposit from public within the meaning
of section 58-A of the companies ACT, 1956 read with the companies
(Acceptance of Deposits) rules 1975.
ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUT GO
Particulars with respect to conservation of energy, Technology
absorption, Foreign Exchange; Earnings & outgo as required under
section 217(1)(e) of the Companies Act, 1956 read with Companies
(Disclosure of Particulars in the Report of Board of Directors) Rules,
1988 is given in the Annexure forming part of this report.
APPRECIATION
The Company places on record its deep appreciation of the devoted
services of executives and other staff of the company who have
contributed in the performance and the Companys inherent strength.
Grateful thanks are also due to the investors, the bankers, business
associates & all other stakeholders for their continued support to the
company from time to time.
By the Order of the Board
For ASHUTOSH PAPER MILLS LIMITED
Place: Delhi (Rajendra Aggarwal) (Sanjay Kumar Aggarwal)
Dated: 20/07/2008 CMD DIRECTOR