Dec 31, 2014
Dear Members,
The Directors are presenting the 25th Annual Report of your Company
and the Audited Accounts for the year ended 31st December 2014.
FINANCIAL RESULTS
(Rs.in Lacs)
Particulars For the year For the year
ended ended
31.12.2014 31.12.2013
Revenue from Operations - -
Profit / (Loss) before taxation (78.72) (1.88)
Profit/ (Loss) for the year carried
to Balance Sheet (78.72) (1.88)
OPERATIONS
During the year under review, the Company''s operations were closed and
hence, the Company has not generated any revenue during the accounting
year. The Company''s losses stood at Rs. 78.72 Lacs as compared to Rs.
1.88 Lacs in the previous year. The accumulated losses of the Company
stood at Rs. 1842.16 Lacs for the year ended on 31st December 2014.
DIVIDEND
In view of the carry forward losses, your Directors do not recommend
any dividend on Equity Shares for the year under review.
PUBLIC DEPOSITS
The Company has not accepted any deposits from the Public.
DIRECTORS
Mr. Sanjay Anand, DIN: 01367853 Director of the Company, retires by
rotation at the ensuing Annual General Meeting of the Company, and
being eligible offers himself for re-appointment. Your Directors
recommend his re-appointment.
AUDITORS
The present Statutory Auditors of the Company, M/s. Majibail & Co.,
Chartered Accountants, (Firm Registration No. 105870W) retire at the
conclusion of the ensuing Annual General Meeting. The Company has
received a letter as required under Section 141 of the Companies Act,
2013 (erstwhile section 224(1B) of the Companies Act, 1956) from M/s.
Majibail & Co., Chartered Accountants, confirming their eligibility and
willingness to act as Statutory Auditors of the company. The Board of
Directors recommend their appointment.
AUDIT REPORT
The Audit Report does not contain any qualification, reservation or
adverse remark or disclaimer. DIRECTORS'' RESPONSIBILITY STATEMENT
As required under Section 217(2AA) of the Companies Act, 1956, your
Directors confirm that:
a) The Company has followed the applicable accounting standards except
AS 15 in the preparation of the Annual Accounts.
b) The Directors had selected the 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 / loss
of the Company for the year under review.
c) The Directors have taken proper and sufficient care for 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.
d) The Directors have prepared the Annual Accounts on a going concern
basis.
PERSONNEL
As on date, none of the employees of the Company fall within the
purview of the provisions of Section 217(2A) of the Companies Act, 1956
read with the Companies (Particulars of Employees) Rules, 1975 and
Companies (Particulars of Employees) Amendment Rules, 2011.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION & INNOVATIONS AND FOREIGN
EXCHANGE
Since the Company is not carrying on manufacturing activities, the
disclosure requirements under this are not applicable to your Company.
However, the information conservation of energy and foreign exchange
earnings and outgo is annexed and forms part of this report.
CORPORATE GOVERNANCE
Your Company is committed to maintain the highest standard of Corporate
Governance and adhere to the requirements set out by SEBI. The Report
on Corporate Governance as stipulated under Clause 49 of the Listing
Agreement, including the shareholders'' information and auditor''s
certificate on its compliance, forms a part of this Annual Report.
ACKNOWLEDGEMENTS
The Board of Directors expresses their deep gratitude for the
co-operation and support extended to the Company by its stakeholders,
customers, suppliers, Bankers and various Government agencies. Your
Directors also place on record the commitment and involvement of the
employees at all levels and looks forward to their continuous
co-operation.
By Order of the Board of Directors
For V. R. WOODART LIMITED
Place: Mumbai
Date : 27.02.2015
Ajay Anand Sanjay Anand
DIN 0373248 DIN1367853
Dec 31, 2013
Dear Shareholders,
The Directors are presenting the 24th Annual Report of your Company
and the Audited Accounts for the year ended 31st December 2013.
FINANCIAL RESULTS (Rs. in Lacs)
Particulars For the year For the year
ended ended
31.12.2013 31.12.2012
Revenue from Operations - 6.00
Profit / (Loss) before taxation (1.88) 9.52
Profit/ (Loss) for the year carried to
Balance Sheet (1.88) 9.52
OPERATIONS
During the year under review, the Company did not generate any revenue
from operations. The Company has suffered a net loss of Rs. 1.88 Lacs
as compared to the profit of Rs. 9.52 Lacs during the previous
accounting year. The Company has not carried on any manufacturing
activities during the year.
DIVIDEND
Due to financial constraints, your Directors do not recommend any
dividend on equity shares for the year under review.
PUBLIC DEPOSITS
The Company has not accepted any deposits from the Public.
DIRECTORS
Mr. Nitin Panchal, Director of the Company, retires by rotation at the
ensuing Annual General Meeting of the Company, and being eligible
offers himself for re-appointment. Your Directors recommend his re-
appointment.
PARTICULARS OF EMPLOYEES
There are no employees drawing salary as required to be mentioned under
Section 217 (2A) of the Companies Act, 1956, read with Companies
(Particulars of Employees) Rules, 1975.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE
EARNINGS AND OUTGO
Since the Company is not carrying on manufacturing activities, the
disclosure requirements under this are not applicable to your Company.
However, the information conservation of energy and foreign exchange
earnings and outgo is annexed and forms part of this report.
DIRECTORS'' RESPONSIBILITY STATEMENT
Pursuant to Section 217 (2AA) of the Companies (Amendment) Act, 2000,
the Directors confirm that:
(i) In the preparation of the annual accounts, the applicable
accounting standards have been followed along with proper explanation
relating to material departures;
(ii) The directors had selected such accounting policies and applied
them consistently and made judgments and estimates that are reasonable
and prudent 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 had taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provision of this Act for safeguarding the assets of the Company and
for preventing and detecting fraud and other irregularities;
(iv) The directors had prepared the annual accounts on "going concern
basis".
CORPORATE GOVERNANCE
A separate section on Corporate Governance is included in the Annual
Report and the Certificate from the Company''s auditors confirming the
compliance of conditions on Corporate Governance as stipulated in
Clause 49 of the Listing Agreement with the Stock Exchanges is annexed
thereto.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
The company is currently not carrying on any manufacturing activities.
Therefore, the Management discussion and analysis report has been not
been attached to this report.
AUDITORS
M/s. Majibail & Co., Chartered Accountants, being eligible offer
themselves for re-appointment. If re- appointed, it will be within the
prescribed limits specified in Section 224 (1B) of the Companies Act,
1956. Members are requested to appoint the auditors and to fix their
remuneration.
ACKNOWLEDGEMENT
Your Directors wish to place on record their appreciation for the
co-operation extended by all the employees, Bankers, Financial
Institutions, various State and Central Government authorities and
Stakeholders.
By Order of the Board of Directors
For V. R. WOODART LIMITED
Place: Mumbai
Date : 28.02.2014 Ajay Anand Sanjay Anand
Director Director
Dec 31, 2012
Dear Shareholders,
The Directors are presenting the 23rd Annual Report of your Company
and the Audited Accounts for the year ended 31st December 2012.
FINANCIAL RESULTS
(Rs. in Lacs)
particulars For the year For the year
ended 31.12.2012 ended 31.12.2011
Revenue from Operations 6.00 43.02
Profit / (Loss) before
taxation 9.52 121.47
Profit/ (Loss) for the year
carried to Balance Sheet 9.52 121.47
OPERATIONS
During the year under review, the Company revenue from operations stood
at Rs. 6.00 Lacs as against Rs. 43.02 Lacs in the previous year. The
Company has earned a Net profit of Rs. 9.52 Lacs as compared to the
Profit of Rs. 121.47 : Lacs during the previous accounting year. The
Company has not carried on any manufacturing activities during the
year.
DIVIDEND
Due to financial constraints, your Directors do not recommend any
dividend on Equity Shares for the year under review.
PUBLIC DEPOSITS
The Company has not accepted any deposits from the Public.
DIRECTORS .
Mr. Sanjay Anand, Director of the Company, retires by rotation at the
ensuing Annual General Meeting of the Company, and being eligible
offers himself for re-appointment. Your Directors recommend his
re-appointment.
PARTICULARS OF EMPLOYEES
There are no employees drawing salary a« enquired to be mentioned under
Section 217 (2A) of the Companies Act, 1956, read with Companies
(Particulars of Employees) Rules, 1975.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE
EARNINGS AND OUTGO
- Since the Company is not carrying on rranufacturing activities, the
disclosure requirements under this are not
- applicable to your Company. However, the information conservation of
energy and foreign exchange earnings and
- outgo is annexed and forms part of this report.
DIRECTORS'' RESPONSIBILITY STATEMENT
Pursuant to Section 217 (2AA) of the Companies (Amendment) Act, 2000,
the Directors confirm that:
(i) In the preparation of the annual accounts, the applicable
accounting standards have been followed along with proper explanation
relating to material departures;
(ii) The directors had selected such accounting policies and applied
them consistently and made judgments and estimates that are reasonable
and prudent 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 had taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provision of this Act for safeguarding the assets of the Company and
for preventing and detecting fraud and other irregularities;
(iv) The directors had prepared the annual accounts on "going concern
basis".
CORPORATE GOVERNANCE
A separate section on Corporate Governance is included in the Annual
Report and the Certificate from the Company''s auditors confirming the
compliance of conditions on Corporate Governance as stipulated in
Clause 49 of the Listing Agreement with the Stock Exchanges is annexed
thereto.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
The company is currently not carrying on any manufacturing activities.
Therefore, the Management discussion and analysis report has been not
been attached to this report.
AUDITORS
M/s. Majibail & Co., Chartered Accountants, being eligible offer
themselves for re-appointment. If re-appointed, it will be within the
prescribed limits specified in Section 224 (IB) of the Companies Act,
1956. Members are requested to appoint the auditors and to fix their
remuneration.
ACKNOWLEDGEMENT
Your Directors wish to place on record their appreciation for the
co-operation extended by all the employees, Bankers, Financial
Institutions, various State and Central Government authorities and
stakeholders.
By Order of the Board of Directors
For V R WOODART LIMITED
Place: Mumbai
Date: 30.05.2013
Ajay Anand Sanjay Anand
Director Director
Dec 31, 2011
The Directors are presenting the 22nd Annual Report of your Company
and the Audited Accounts for the year ended 31st December 2011.
FINANCIAL RESULTS
(Rupees In Lacs)
Particulars For the year ended For the year ended
31.12.2011 31.12.2010
Sales 43.02 141.73
Profit / (Loss) before
taxation 121.47 29.65
121.47 29.65
Profit/ (Loss) for the year
carried to Balance Sheet
OPERATIONS, OVERVIEW AND BUSINESS OUTLOOK
During the year under review, the Company Sales stood at Rs. 43.02 Lacs
as against Rs. 141.73 Lacs in the previous year. The Company has earned
a Net profit of Rs. 121.47 Lacs as compared to the Loss of Rs. 29.65
Lacs during the previous accounting year.
DIVIDEND
Due to financial constraints, your Directors do not recommend any
dividend on Equity Shares for the year under review.
PUBLIC DEPOSITS
The Company has not accepted any deposits from the Public.
DIRECTORS
Mr. Nitin Panchal, Director of the Company, retires by rotation at the
ensuing Annual General Meeting of the Company, and being eligible
offers himself for re-appointment. Your Directors recommend his
re-appointment.
PARTICULARS OF EMPLOYEES
There are no employees drawing salary as required to be mentioned under
Section 217 (2A) of the Companies Act, 1956, read with Companies
(Particulars of Employees) Rules, 1975.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE
EARNINGS AND OUTGO
The Particulars required under Section 217 (1) (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 to this
Report.
DIRECTOR'S RESPONSIBILITY STATEMENT
Pursuant to Section 217 (2AA) of the Companies (Amendment) Act, 2000,
the Directors confirm that:
(i) In the preparation of the annual accounts, the applicable
accounting standards have been followed along with proper explanation
relating to material departures;
(ii) The directors had selected such accounting policies and applied
them consistently and made judgments and estimates that are reasonable
and prudent 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 had taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provision of this Act for safeguarding the assets of the Company and
for preventing and detecting fraud and other irregularities;
(iv) The directors had prepared the annual accounts on "going concern
basis".
CORPORATE GOVERNANCE
A separate section on Corporate Governance is included in the Annual
Report and the Certificate from the Company's auditors confirming the
compliance of conditions on Corporate Governance as stipulated in
Clause 49 of the Listing Agreement with the Stock Exchanges is annexed
thereto.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
The company is currently not carrying on any manufacturing activities.
The Company sold its plant located at Plot No. 42, Cochin Special
Economic Zone. The accumulated loses of the Company stood at
17,43,68,702/- on the balance sheet date 31.12.2011 which is more than
its Networth.
AUDITORS
M/s. Majibail & Co., Chartered Accountants, being eligible offer
themselves for re-appointment. If re-appointed, it will be within the
prescribed limits specified in Section 224 (1B) of the Companies Act,
1956. Members are requested to appoint the auditors and to fix their
remuneration.
ACKNOWLEDGEMENT
Your Directors wish to place on record their appreciation for the
co-operation extended by all the employees, Bankers, Financial
Institutions, various State and Central Government authorities.
By Order of the Board of Directors
For V R WOODART LIMITED
Place: Mumbai
Date : 30.05.2012
Ajay Anand
Director