Mar 31, 2015
The Company's performance during the financial year ended March 31,
2015 as compared to the previous financial year is summarized as below:
(In Rs.)
Current Year ended Previous Year Ended
31/03/2015 31/03/2014
Revenue from Operations
before tax, interest & 42,18,913.00 48,60,800.00
depreciation
Less: Depreciation 6,09,851.00 6,68,059.00
Less: Finance Charges 84,014.00 5,70,935.00
Profit Before Tax 35,25,048.00 36,21,806.00
Provision for Tax 13,55,230.00 11,19,137.00
Profit After Tax 21,69,818.00 25,02,669.00
Add: Balance brought
forward from previous
year 3,14,34,081.00 2,89,31,412.00
Profit available for
appropriation 3,26,99,439.00 3,14,34,081.00
Balance to be carried
forward to the balance
sheet 3,26,99,439.00 3,14,34,081.00
NATURE OF BUSINESS
The Company is engaged in the activities of Land for Real Estate
Development. On the real estate development front, the Company develops
residential, commercial, retail and social infrastructure projects.
There was no change in the nature of the business of the Company during
the year under review.
FINANCIAL PERFORMANCE
During the year under review, your Company's total revenue stood at Rs.
1,38,68,489 as at 31st March, 2015 as compared to Rs. 1,72,31,477 as at
31st March, 2014.
Your directors hoping the good business performance in the coming
years.
TRANSFER TO RESERVES
It is not proposed to transfer any amount to reserves out of the
profits earned during financial year ended 2014-15.
DIVIDEND
The Board of Directors has not recommended any dividend on the Share
Capital of the Company for the period ended 31st March 2015 considering
the current cash flow position of the Company.
DEPOSITS
During the year under review, your Company did not accept any deposits
in terms of Section 73 of the Companies Act, 2013 read with the
Companies (Acceptance of Deposit) Rules, 2014. As on April 1, 2014, no
amounts were outstanding which were classified as 'Deposits' under the
applicable provisions of Companies Act, 1956 and hence, the requirement
for furnishing of details of deposits which are not in compliance with
the Chapter V of the Companies Act, 2013 is not applicable.
SHIFTING OF REGISTERED OFFICE OF THE COMPANY (DISCLOSURE OF ORDERS
PASSED REGIONAL DIRECTOR, NOIDA)
During the year under review the Company's registered office has
shifted in the State of Uttar Pradesh from the State of Delhi. The
Shifting of Registered Office has been confirmed by Regional Director,
Northern Region Bench, Noida on 25.03.2015 order no. SRN C40186165
(13)/2013/13432.
DISCLOSURES UNDER SECTION 134(3)(L) OF THE COMPANIES ACT, 2013
Except as disclosed elsewhere in this report, no material changes and
commitments which could affect the Company's financial position have
occurred between the end of the financial year of the Company and the
date of this report.
PARTICULARS OF CONTRACTS OR ARRANGEMENT WITH RELATED PARTIES
All transactions of the Company with Related Parties are in the
ordinary course of business and at arm's length. Information about the
transactions with Related Parties is given in the Corporate Governance
Report which forms a part of this Annual Report.
Form AOC - 2 pursuant to the provisions of Section 134 (3) (h) of the
Companies Act, 2013, read with Rule 8 (2) of the Companies (Accounts)
Rules, 2014 is given as Annexure I to this Directors' Report.
PARTICULARS OF LOANS, GUARANTEES, INVESTMENTS UNDER SECTION 186
Particulars of loans, guarantees and investments as on 31st March, 2015
are given in the Notes to the financial statement.
DISCLOSURE RELATING TO EQUITY SHARES WITH DIFFERENTIAL RIGHTS
The Company has not issued any equity shares with differential rights
during the year under review and hence no information as per provisions
of Rule 4(4) of the Companies (Share Capital and Debenture) Rules, 2014
has been furnished.
DISCLOSURE RELATING TO SWEAT EQUITY SHARE
The Company has not issued any sweat equity shares during the year
under review and hence no information as per provisions of Rule 8(13)
of the Companies (Share Capital and Debenture) Rules, 2014 has been
furnished.
DISCLOSURE RELATING TO EMPLOYEE STOCK OPTION SCHEME AND EMPLOYEE STOCK
PURCHASE SCHEME
The Company has not issued any employee stock option scheme and
employee stock purchase scheme and hence no information as provisions
of Rule 12(9) of the Companies (Share Capital and Debenture) Rules,
2014 and SEBI (Employee Share Based Employee Benefits) Regulations,
2014, has been furnished.
DISCLOSURES IN RESPECT OF VOTING RIGHTS NOT DIRECTLY EXERCISED BY
EMPLOYEES
There are no shares held by trustees for the benefit of employees
therefore, no disclosure under Rule 16(4) of the Companies (Share
Capital and Debentures) Rules, 2014 has been furnished.
MATTERS RELATED TO DIRECTORS AND KEY MANAGERIAL PERSONNEL
During the year the board of directors of the Company has appointed Ms.
Kanchan Agarwal as Company Secretary and appointment of Ms. Kanchan
Agarwal was formalized as the Key Managerial Personnel of the Company
to comply with the provisions of Section 203 of the Companies Act,
2013.
During the year under review, Board of Directors appointed of Mrs.
Kusum Singhal as Women Director (Category: Additional Independent
Director) w.e.f. 30.03.2015.
In accordance with the Articles of Association of your Company and
pursuant to provision of Companies Act, 2013, Mr. Ashok Kumar Mittal,
Non Executive Director, Chairman retires from office by rotation, and
being eligible, offer themselves for re-appointment at the ensuing
Annual General Meeting of the Company. The brief resume of Mr. Ashok
Kumar Mittal, as required interalia in terms of Clause 49 of the
Listing Agreement with the stock exchanges, are provided elsewhere in
this Annual Report.
Mr. Ramesh Chand Agarwal, Non Executive, Independent Director has
relinquished the post of Non Executive, Independent Director from the
Board and continues as an Non Executive Director of the Company.
The Board of Directors has appointed Mr. Rhythm Garg as an additional
independent director w.e.f 10.04.2015.
Section 149 and other applicable provisions of the Companies Act, 2013,
require the Company to have at least one-third of the total number of
Directors as Independent Directors. In the opinion of the Board, Mrs.
Kusum Singhal and Mr. Rhythm Garg are Independent Directors in terms of
the Listing Agreement, meet the criteria of independence in terms of
section 149 (6) of the Act, are being considered for appointment as
Independent Directors of the Company under sections 149,150 and 152
read with Schedule IV of the Act. The Company has received declarations
from all these Directors of the Company confirming that they meet with
the criteria of independence as prescribed both under section 149 (6)
and Schedule IV of the Companies Act, 2013 and clause 49 of the Listing
Agreement with the Stock Exchanges. Accordingly resolutions will be
placed at the ensuing Annual General Meeting (AGM) for their
appointment as Independent Directors for a period of five consecutive
years from the date of ensuing AGM and not liable to retire by
rotation.
Mr. Anil Kumar Agarwal, Whole Time Director has been re-appointed by
the Board of Directors as Whole Time w.e.f 30.05.2015 for a period of
five year and his appointment was formalized as the Key Managerial
Personnel of the Company to comply with the provisions of Section 203
of the Companies Act, 2013.
DECLARATIONS BY INDEPENDENT DIRECTORS
Pursuant to the provisions of sub-section (7) of Section 149 of the
Companies Act, 2013, the Company has received individual declarations
from all the Independent Directors confirming that they fulfill the
criteria of independence as specified in Section 149(6) of the
Companies Act, 2013.
DISCLOSURE UNDER SECTION 134 (3)(B)
Number of Board Meetings
The Board of Directors met 13 times during the financial year ended
March 31, 2015 in accordance with the provisions of the Companies Act,
2013 and rules made thereunder. Directors of the Company actively
participated in the meetings and contributed valuable inputs on the
matters brought before the Board of Directors from time to time.
Number of Committees Meeting
The Audit Committee met 5 times during the financial year ended March
31, 2015. The Stakeholders Relationship Committee met 4 times during
the financial ended March 31, 2015. The nomination and remuneration
committee met 1 time during the financial year ended March 31, 2015.
Members of the Committees discussed the matter placed and contributed
valuable inputs on the matters brought before.
Additionally, during the financial year ended March 31, 2015 the
Independent Directors held a separate meeting in compliance with the
requirements of Schedule IV of the Companies Act, 2013 and Clause
49(II)(B)(6) of the Listing Agreement. (Non Compliance)
DIRECTOR'S RESPONSIBILITY STATEMENT
In terms of Section 134(5) of the Companies Act, 2013, in relation to
the audited financial statements of the Company for the year ended
March 31, 2015, the Board of Directors hereby confirms that:
1. In the preparation of the annual accounts, the applicable
accounting standards had been followed along with proper explanation
relating to material departures;
2. The Directors had selected such accounting policies have been
selected and applied consistently and the Directors 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 as on March 31, 2015 and of
the profits of the Company for the year ended on that date;
3. The Directors had taken proper and sufficient care was taken for
the maintenance of adequate accounting records in accordance with the
provisions of the Companies Act, 2013 for safeguarding the assets of
the Company and for preventing and detecting fraud and other
irregularities;
4. The Directors has prepared annual accounts of the Company have been
prepared on a going concern basis;
5. The Directors had laid down internal financial controls have been
laid down to be followed by the Company and that such internal
financial controls are adequate and were operating effectively;
6. The Directors had devised proper systems have been devised to
ensure compliance with the provisions of all applicable laws and that
such systems were adequate and operating effectively.
NOMINATION AND REMUNERATION COMMITTEE
The Company has constituted a Nomination and Remuneration Committee and
formulated the criteria for determining the qualification, positive
attributes and independence of a Director (the Criteria). The
Nomination and Remuneration Committee has recommended to the Board a
policy relating to the remuneration for Directors, Key Managerial
Personnel and other employees, as required under Section 178 (1) of the
Companies Act, 2013.
Kindly refer section on Corporate Governance, under the head,
'Nomination and Remuneration, Committee' for matters relating to
constitution, meetings, functions of the Committee and the remuneration
policy formulated by this Committee.
ANNUAL EVALUATION OF DIRECTORS, COMMITTEE AND BOARD
The Criteria, inter alia, includes: a person to be appointed on the
Board of the Company should possess in addition to the fundamental
attributes of character and integrity, appropriate qualifications,
skills, experience and knowledge in one or more fields of engineering,
banking, management, finance, marketing and legal, a proven track
record, etc.
AUDIT COMMITTEE
An Audit Committee is in existence in accordance with the provisions of
Section 177 of the Companies Act, 2013. Kindly refer to the section on
Corporate Governance, under the head, 'Audit Committee' for matters
relating to constitution, meetings and functions of the Committee.
CORPORATE SOCIAL RESPONSIBILITY COMMITTEE
As per the provisions of Section 135 of the Companies Act, 2013,
constitution of Corporate Social Responsibility (CSR) Committee and
matters relating to it is not applicable to Company. Hence there is no
information regarding it.
OTHER BOARD COMMITTEES
For details of other board committees viz. Stakeholders Relationship
Committee, Nomination and Remuneration Committee, kindly refer to the
section on Corporate Governance.
VIGIL MECHANISM FOR THE DIRECTORS AND EMPLOYEES
The Company has established a vigil mechanism, through a Whistle Blower
Policy, where Directors and employees can voice their genuine concerns
or grievances about any unethical or unacceptable business practice. A
whistle-blowing mechanism not only helps the Company in detection of
fraud, but is also used as a corporate governance tool leading to
prevention and deterrence of misconduct.
It provides direct access to the employees of the Company to approach
the Compliance Officer or the Chairman of the Audit Committee, where
necessary. The Company ensures that genuine Whistle Blowers are
accorded complete protection from any kind of unfair treatment or
victimization. The Whistle Blower Policy is disclosed on the website
of the Company at www.annainfra.com.
RISK MANAGEMENT POLICY
The Board of Directors of the Company has formulated a Risk Management
Policy which aims at enhancing shareholders' value and providing an
optimum risk reward thereof. The risk management approach is based on a
clear understanding of the variety of risks that the organization
faces, disciplined risk monitoring and measurement and continuous risk
assessment and mitigation measures.
INTERNAL FINANCIAL CONTROLS
The Company has in place adequate internal financial controls related
to financial statement. During the year, such controls were tested and
no reportable material weaknesses were observed by Internal Auditors of
the Company for inefficiency or inadequacy of such controls. Some of
the controls are outlined below:
The Company has adopted accounting policies, which are in line with
the Accounting Standards and other applicable provisions of the
Companies Act, 2013;
Changes in polices, if any, are approved by the Audit Committee in
consultation with the Auditors;
In preparing the financial statement, judgment and estimates have
been made based on sound policies. The basis of such judgments and
estimates are approved by the Auditors and the Audit Committee;
PARTICULARS OF EMPLOYEES AND REMUNERATION
Your Directors appreciate the significant contribution made by the
employees to the operations of your Company during the period.
The information required on particulars of employees as per Section
197(12) of the Companies Act, 2013 and Rule 5 of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014, is
given in a separate Annexure II to this Directors' Report.
As per the provisions contained in the proviso to Section 136(1) of the
Companies Act, 2013, the aforesaid particulars are not being sent as a
part of this Annual Report. Any Member interested in obtaining a copy
of the same may write to the Company Secretary at the registered office
of the Company.
OBLIGATION OF COMPANY UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE
(PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013
In order to prevent sexual harassment of women at work place a new act
The Sexual Harassment of Women at Workplace (Prevention, Prohibition
and Redressal) Act, 2013 has been notified on 9th December, 2013. Under
the said Act every company is required to set up an Internal Complaints
Committee to look into complaints relating to sexual harassment at work
place of any women employee.
Company has adopted a policy for prevention of Sexual Harassment of
Women at workplace and has set up Committee for implementation of said
policy. During the year Company has not received any complaint of
harassment.
EXTRACT OF ANNUAL RETURN
Pursuant to the provisions of Section 134(3)(a) of the Companies Act,
2013, Extract of the Annual Return for the financial year ended March
31, 2015 made under the provisions of Section 92(3) of the Act is
attached as Annexure III which forms part of this Report.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO
The particulars as required under the provisions of Section 134(3) (m)
of the Companies Act, 2013 read with Rule 8 of the Companies (Accounts)
Rules, 2014 in respect of conservation of energy, Foreign exchange
earnings and outgo and technology absorption have not been furnished
considering the nature of activities undertaken by the Company during
the year under review.
CORPORATE GOVERNANCE
The report on Corporate Governance and the certificate from the
Statutory Auditors regarding compliance with the conditions of
Corporate Governance have been furnished in the Annual Report and form
a part of the Annual Report.
MANAGEMENT AND DISCUSSION AND ANALYSIS REPORT
The Management Discussion and Analysis report has been separately
furnished in the Annual Report and forms a part of the Annual Report.
AUDITORS AND THEIR REPORTS
The matters related to Auditors and their Reports are as under:
OBSERVATIONS OF STATUTORY AUDITORS ON ACCOUNTS FOR THE YEAR ENDED MARCH
31, 2015 The auditor's report does not contain any qualification,
reservation or adverse remark or Disclaimer.
STATUTORY AUDITORS APPOINTMENT
Pursuant to the provisions of Section 139 of the Companies Act, 2013
and the Companies (Audit and Auditors) Rules, 2014, M/s. Mehra Sanjay &
Co., Chartered Accountants, the Statutory Auditors of the Company, hold
office upto the conclusion of the Twenty Fourth (24th) Annual General
Meeting.
However, their appointment as Statutory Auditors of the Company is
subject to ratification by the Members at every Annual General Meeting.
The Company has received a certificate from the said Auditors that they
are eligible to hold office as the Auditors of the Company and are not
disqualified for being so appointed.
Necessary resolution for ratification of appointment of the said
Auditors is included in the Notice of Annual General Meeting for
seeking approval of members.
SECRETARIAL AUDIT REPORT FOR THE YEAR ENDED MARCH 31, 2015
As required under provisions of Section 204 of the Companies Act, 2013,
the report in respect of the Secretarial Audit carried out by M/s
Satyendra Sharma & Associates, Company Secretaries in Form MR-3 for the
FY2014-15 is attached as Annexure IV which forms part of this Report.
The said report does not contain any adverse observation or
qualification requiring explanation or comments from the Board under
Section 134(3) of the Companies Act, 2013.
ACKNOWLEDGEMENTS AND APPRECIATION
Your Directors take this opportunity to thank the customers, suppliers,
bankers, business partners/associates, financial institutions and
various regulatory authorities for their consistent
support/encouragement to the Company.
Your Directors would also like to thank the Members for reposing their
confidence and faith in the Company and its Management.
By Order of the Board of Directors
For Anna Infrastructures Limited
Agra, August 13, 2015
(Ashok Kumar Mittal)
Chairman
DIN: 00320504
Registered Office:
Shop. No. 1 & 3, E-14/6, First Floor,
Shanta Tower, Sanjay Place,
Agra-282002
CIN: L65910UP1993PLC070612
Telephone: 0562-2527004
Email ID : [email protected]
Website :www.annainfra.com
Mar 31, 2014
Dear Members,
The Company''s Directors are pleased to present the 22nd Annual Report
of the Company, along with Audited Accounts, for the financial year
ended 31st March, 2014.
FINANCIAL RESULT
The performance of the Company for the financial year ended 31st March,
2014 is summarized below:
(Rs)
Particulars For the Year For the Year
Ended Ended
31st March, 2014 31st March, 2013
Profit before Tax, Interest &
Depreciation 48,60,800 51,54,715
Less: Depreciation 6,68,059 5,56,363
Less: Finance Charges 5,70,935 10,08,848
Profit Before Tax 36,21,806 35,89,504
Provision for Tax 11,19,137 11,11,390
Profit After Tax 25,02,669 24,78,114
Add: Balance brought forward
from previous year 2,89,31,412 2,64,53,298
3,14,34,081 2,89,31,412
Profit available for
appropriation Appropriations: 3,14,34,081 2,89,31,412
Balance to be carried forward
to the balance sheet 3,14,34,081 2,89,31,412
DIVIDEND
To keep the resources of the Company, your Directors do not recommend
any dividend on equity shares for the financial year under review.
DIRECTORS
In accordance with the provisions of the Companies Act, 2013 and as per
the Article of Association Mr. Rakesh Kumar Mittal (DIN No. 00320523),
Director of the Company retires by rotation at this Annual General
Meeting and being eligible, offer himself for re-appointment.
PUBLIC DEPOSITS
Fixed Deposit outstanding as on 31st March, 2014 stood at Rs. NIL
(Previous Year: Rs. NIL). There are Deposits amounting to Rs. NIL,
which remained unclaimed and unpaid as on 31.03.2014 (Previous Year
:Rs. NIL).
AUDITORS & AUDITORS'' REPORT
M/s Mehra Sanjay & Co., Chartered Accountants, Statutory Auditor of the
Company retires at ensuing Annual General Meeting are eligible for
re-appointment and had given their consent for re-appointment.
The Company has obtained a written confirmation from the Statutory
Auditors proposed to be reappointed to the effect that their
re-appointment if made, would be within the limits prescribed.
The observations of Auditor in their report read with notes to the
accounts are self explanatory and do not call for any further
explanation.
PARTICULARS OF EMPLOYEES
There are no employees who was in receipt of remuneration of
Rs.5,00,000/- or more per month or Rs. 60,00,000/- or more per annum in
terms of Section 217(2A) of Companies Act, 1956 read with the Companies
(particulars of Employees) rules, 1975 as amended from time to time.
DIRECTORS'' RESPONSIBILITY STATEMENT
In accordance with the provisions of Section 217 (2AA) of the Companies
Act, 1956 and based on the information provided by Management, your
Directors state that:
* 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;
* 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 profits of the Company for that
period;
* Proper and Sufficient care has been taken 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; and
* The annual accounts of the Company have been prepared on a going
concern basis.
CORPORATE GOVERNANCE
To comply with conditions of Corporate Governance, pursuant to Clause
49 of Listing Agreement entered with Stock Exchanges (BSE) on listing
of equity shares of the Company, Management Discussion and Analysis,
Report on Corporate Governance and Auditors'' Certificate, are included
in this Annual Report.
CONSERVATION OF ENERGY & TECHNOLOGY ABSORPTION
As required under Section 217(1)(e) of the Companies Act, 1956 Company
does not fall under any industries covered by the Companies (Disclosure
of Particulars in the Report of Board of Directors) Rules 1988. Hence
the requirements of disclosure in relation to the Conservation of
Energy, Technology Absorption are not applicable to it.
FOREIGN EXCHANGE EARNINGS AND OUTGO
Total Foreign Exchange earnings and outgo for the financial year is as
follow:
a) Total foreign exchange earning: NIL
b) Total foreign exchange outgo : NIL
ACKNOWLEDGMENT
On behalf of the Directors of the Company, we would like to place on
record our sincere appreciation to our Shareholders, Customers,
Business Partners, Bankers, Financial Institutions and Government
Authorities.
We also appreciate and value the contributions made by all our
employees in Company''s growth.
Reg. Off : By Order of the Board of Directors
C-3, Amar Colony Market, Ground For Anna Infrastructures Limited
Floor, Entry Back Side, Lajpat
Nagar-IV, New Delhi-110024 Sd/-
CIN : L65910DL1993PLC052061 (Ashok Mittal)
Chairman
Place : Delhi
Date : 31st May, 2014
Mar 31, 2013
TO THE MEMBERS
The Directors have pleasure in presenting the Twentieth Annual Report
on the business operation of your company and the Audited Financial
Accounts for the year ended 31st March, 2013.
FINANCIAL RESULTS
The financial results of the company are given below:-
As At As At
31.03.2013 31.03.2012
(Rs.) (Rs.)
Profit before Tax, Interest
& Depreciation 51,54,715 61,61,083
Less: Depreciation 5,56,363 6,04,553
Less: Finance Charges 10,08,848 13,12,949
Profit before Tax 35,89,504 42,43,581
Provision for Tax 11,11,390 13,15,716
Profit after Tax 24,78,114 29,27,865
Add : Balance B/f from last year 2,64,53,298 2,35,25,433
Profit available for appropriation 2,89,31,412 2,64,53,298
Appropriations:
Balance carried to Balance Sheet 2,89,31,412 2,64,53,298
DIVIDEND
In order to strengthen the Reserves of the Company the Directors do not
recommend any dividend.
DEPOSITS
Fixed Deposit outstanding as on 31st March,2013 stood at Rs. NIL
(Previous Year: Rs. NIL). There are Deposits amounting to Rs. NIL,
which remained unclaimed and unpaid as on 31.03.2013 (Previous Year
:Rs. NIL). The Company has complied with all the requirements of
Reserve Bank of India Directions.
DIRECTORS
In accordance with the provision of the Companies Act, 1956 and
Articles of Association of the company Sri Ashok Mittal & Shri Anil
Kumar Agarwal, Directors of the Company retire by rotation and being
eligible offer themselves for reappointment. The necessary resolutions
for their reappointment are placed before you for approval.
AUDITORS & THEIR REPORT
M/s Mehra Sanjay & Co, Chartered Accountants retire as Auditors of the
Company at the ensuing Annual General Meeting and being eligible, offer
themselves for re-appointment. The Directors and the Audit Committee
recommends their re-appointment. Auditors'' Report is self explanatory
and requires no comments by the Directors.
AUDIT COMMITTEE
The Audit Committee constituted by the Board in compliance with section
292a of the Companies Act, 1956 and under the listing agreement,
comprised of Sri Madan Mohan Agarwal, Dr. Shambhu Dayal Agarwal and Sri
Ramesh Chand Agarwal all of whom are non-executive Directors. Sri Madan
Mohan Agarwal, who is the chairman of the Audit Committee, is a
Practicing Chartered Accountant with more than 30 years experience in
Finance and Accounts matters. The Finance Executives and Statutory
Auditors of the Company are permanent invitees to the Audit Committee
Meetings.
CORPORATE GOVERNANCE
Pursuant to clause 49 of the Listing Agreement with the Stock Exchange,
a Management Discussion & Analysis, Corporate Governance Report and
Auditors'' Certificate regarding compliance of conditions of Corporate
Governance are made a part of the Annual Report.
PARTICULARS OF THE EMPLOYEES
Provisions of section 217(2A) of the Companies Act, 1956 read with the
companies (Particulars of Employees) Rules, 1975 are not applicable as
there was no employee in receipt of or entitled to receive emoluments
exceeding the limits prescribed under said section.
THE COMPANIES (DISCLOSURE OF PARTICULRS IN THE REPORT OF BOARD OF
DIRECTORS) RULES 1988.
In.terms of the requirement of clause (e) of sub section (1) of section
217 of the Companies Act, 1956 read with the companies (disclosure of
particulars in the report of Board of Directors) Rules, 1988 the
particulars are given as follows:
The Company is engaged in the business of Real Estate and Financing,
hence provisions relating to Energy conservation and Technology
absorption are not applicable. There is no foreign exchange
earnings/outgo during the year.
DIRECTORS RESPONSIBILITY STATEMENT PURSUANT TO SECTION 217(2AA) OF THE
COMPANIES ACT, 1956
As required u/s 217 (2AA) of the companies Act, 1956, we hereby
confirm:
(i) that in the preparation of the annual accounts, the applicable
accounting standards had been followed along with proper explanations
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 as at 31st March 2013 and the Profit &''Loss
for the year ended 31st March 2013;
(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 for safeguarding the assets of the
Company and for preventing and detecting fraud and other
irregularities;
(iv) That the directors have prepared the annual accounts on a going
concern basis.
ACKNOWLEDGEMENT
The Directors wish to place on record our valued clients, Bankers,
Shareholders for continues their support. The Directors also wish to
express their sincere appreciation to all the staff members for their
contribution to the performance of the company.
By order of the Board
Sd/-
Place : New Delhi ASHOK MITTAL
Date : 28-06-2013 chairman
Mar 31, 2012
The Directors have pleasure in presenting the Twentieth Annual Report
on the business operation of your company and the Audited Financial
Accounts for the year ended 31st March, 2012.
FINANCIAL RESULTS
The financial results of the company are given below:-
As At As At
31.03.2012 31.03.2011
(Rs.) (Rs.)
Profit before Tax, Interest &
Depreciation 61,61,083 42,22,261
Less: Depreciation 6,04,553 6,14,260
Less: Finance Charges 13,12,949 12,00,793
Profit before Tax 42,43,581 24,07,208
Provision for Tax 13,15,716 7,53,545
Profit after Tax 29,27,865 16,53,663
Add : Balance B/f from last year 2,35,25,433 2,18,71,770
Profit available for appropriation 2,64,53,2 2,35,25,433
Appropriations:
Balance carried to Balance Sheet 2,64,53,298 2,35,25,433
2,64,53,298 2,35,25,433
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
(a) Industry Structure & Developments
During the FY 2011-2012 the company has focused on Real Estate
Business.
(b) Opportunities & Challenges
There are excellent opportunities for growth in Real Estate Business in
the country. Your Company is well positioned to take advantage of
emerging growth opportunities in the Indian economy.
(c) Outlook
Anna Infrastructures Ltd. is likely to maintain its focus on Real
Estate Business activity.
(d) Adequacy of Internal Control
The Company has adequate internal control and systems commensurate with
the size and nature of the business. The Company adheres to all
internal control policies and procedures as well as complies with
regulatory guidelines. The Audit Committee of the Board of Directors
reviews the efficacy of internal controls.
(e) Human Resource Development ,
Your Company continued to have cordial and harmonious relations with
all its employees.
DIVIDEND
In order to strengthen the Reserves of the Company the Directors do not
recommend any dividend. DEPOSITS
Fixed Deposit outstanding as on 31st March,2012 stood at Rs. NIL
(Previous Year: Rs. NIL). There are Deposits amounting to Rs. NIL,
which remained unclaimed and unpaid as on 31.03.2012 (Previous Year
:Rs. NIL). The Company has complied with all the requirements of
Reserve Bank of India Directions.
DIRECTORS
In accordance with the provision of the Companies Act, 1956 and
Articles of Association of the company Sri Rakesh Mittal, Dr. Shambhu
Dayal Agarwal and Shri Madan Mohan Agarwal, Directors of the Company
retire by rotation and being eligible offer themselves for
reappointment. The necessary resolutions for their reappointment are
placed before you for approval.
AUDITORS & THEIR REPORT
M/s Mehra Sanjay & Co, Chartered Accountants retire as Auditors of the
Company at the ensuing Annual General Meeting and being eligible, offer
themselves for re-appointment. The Directors and the Audit Committee
recommends their re-appointment. Auditors' Report is self explanatory
and requires no comments by the Directors.
AUDIT COMMITTEE
The Audit Committee constituted by the Board in compliance with section
292a of the Companies Act, 1956 and under the listing agreement,
comprised of Sri Madan Mohan Agarwal, Dr. Shambhu Dayal Agarwal and Sri
Shalabh Singh all of whom are non-executive Directors. Sri Madan Mohan
Agarwal, who is the chairman of the Audit Committee, is a Practicing
Chartered Accountant with more than 28 years experience in Finance and
Accounts matters. The Finance Executives and Statutory Auditors of the
Company are permanent invitees to the Audit Committee Meetings.
CORPORATE GOVERNANCE
Pursuant to clause 49 of the Listing Agreement with the Stock Exchange,
a Management Discussion & Analysis, Corporate Governance Report and
Auditors' Certificate regarding compliance of conditions of Corporate
Governance are made a part of the Annual Report.
PARTICULARS OF THE EMPLOYEES
Provisions of section 217(2A) of the Companies Act, 1956 read with the
companies (Particulars of Employees) Rules, 1975 are not applicable as
there was no employee in receipt of or entitled to receive emoluments
exceeding the limits prescribed under said section.
THE COMPANIES (DISCLOSURE OF PARTICULRS IN THE REPORT OF BOARD OF
DIRECTORS) RULES 1988.
In terms of the requirement of clause (e) of sub section (1) of section
217 of the Companies Act, 1956 read with the companies (disclosure of
particulars in the report of Board of Directors) Rules, 1988 the
particulars are given as follows:
The Company is engaged in the business of Real Estate and Financing,
hence provisions relating to Energy conservation and Technology
absorption are not applicable. There is no foreign exchange
earnings/outgo during the yoar. -
DIRECTORS RESPONSIBILITY STATEMENT PURSUANT TO SECTION 217(2AA) OF THE
COMPANIES ACT, 1956
As required u/s 217 (2AA) of the companies Act, 1956, we hereby
confirm:
(i) that in the preparation of the annual accounts, the applicable
accounting standards had been followed along with proper explanations
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 as at 31st March 2012 and the Profit & Loss
for the year ended 31st March 2012;
(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 for safeguarding the assets of the
Company and for preventing and detecting fraud and other
irregularities;
(iv) That the directors have prepared the annual accounts on a going
concern basis.
ACKNOWLEDGEMENT
The Directors wish to place on record our valued clients, Bankers,
Shareholders for continues their support. The Directors also wish to
express their sincere appreciation to all the staff members for their
contribution to the performance of the company.
By order of the Board
Place : New Delhi ASHOK MITTAL
Date : 29-06-2012 chairman
Mar 31, 2010
The Directors have pleasure in presenting the Eighteen Annual Report
on the business operation of your company and the Audited Financial
Accounts for the year ended 31st March, 2010.
FINANCIAL RESULTS
The financial results of the company are given below:-
As At As At
31.03.2010 31.03.2009
(Rs.) (Rs.)
Profit before Tax, Interest & Depreciation 41,67,834 37,68,491
Less: Depreciation 6,08,528 6,08,162
Less: Finance Charges 10,21,959 8,60,524
Profit before Tax 25,37,347 22,99,805
Provision for Tax 7,60,974 7,83,150
Profit after Tax 17,76,373 15,16,655
Add : Balance B/f from last year 2,00,95,397 1,85,78,742
Less: Adjustment relating to previous year NIL NIL
Profit available for appropriation 2,18,71,770 2,00,95,397
Appropriations:
Balance carried to Balance Sheet 2,18,71,770 2,00,95,397
2,18,71,770 2,00,95,397
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
(a) Industry Structure & Developments
During the FY 2009-2010 the company has focused on Real Estate
Business.
(b) Opportunities & Challenges
There are excellent opportunities for growth in Real Estate Business in
the country. Your Company is well positioned to take advantage of
emerging growth opportunities in the Indian economy.
(c) Outlook
Anna Infrastructures Ltd. is likely to maintain its focus on Real
Estate Business activity.
(d) Adequacy of Internal Control
The Company has adequate internal control and systems commensurate with
the size and nature of the business. The Company adheres to all
internal control policies and procedures as well as complies with
regulatory guidelines. The Audit Committee of the Board of Directors
reviews the efficacy of internal controls.
(e) Human Resource Development
Your Company continued to have cordial and harmonious relations with
all its employees.
DIVIDEND
In order to strengthen the Reserves of the Company the Directors do not
recommend any dividend.
DEPOSITS
Fixed Deposit outstanding as on 31s1 March,2010 stood at Rs. NIL
(Previous Year: Rs. NIL). There are Deposits amounting to Rs. NIL,
which remained unclaimed and unpaid as on 31.03.2010 (Previous Year
:Rs. NIL). The Company has complied with all the requirements of
Reserve Bank of India Directions.
DIRECTORS
In accordance with the provision of the Companies Act, 1956 and
Articles of Association of the company Sri Ashok Mittal and Sri Shalabh
Singh, Directors of the Company retire by rotation and being eligible
offer themselves for reappointment. The necessary resolutions for their
reappointment are placed before you for approval.
AUDITORS & THEIR REPORT
M/s Mehra Sanjay & Co, Chartered Accountants retire as Auditors of the
Company at the ensuing Annual General Meeting and being eligible, offer
themselves for re-appointment. The Directors and the Audit Committee
recommends their re-appointment. Auditors Report is self explanatory
and requires no comments by the Directors.
AUDIT COMMITTEE
The Audit Committee constituted by the Board in compliance with section
292a of the Companies Act, 1956 and under the listing agreement,
comprised of Sri Madan Mohan Agarwal, Dr. Shambhu Dayal Agarwal and Sri
Shalabh Singh all of whom are non-executive Directors. Sri Madan Mohan
Agarwal, who is the chairman of the Audit Committee, is a Practicing
Chartered Accountant with more than 20 years experience in Finance and
Accounts matters. The Finance Executives and Statutory Auditors of the
Company are permanent invitees to the Audit Committee Meetings.
CORPORATE GOVERNANCE
Pursuant to clause 49 of the Listing Agreement with the Stock Exchange,
a Management Discussion & Analysis, Corporate Governance Report and
Auditors Certificate regarding compliance of conditions of Corporate
Governance are made a part of the Annual Report.
PARTICULARS OF THE EMPLOYEES
Provisions of section 217(2A) of the Companies Act, 1956 read with the
companies (Particulars of Employees) Rules, 1975 are not applicable as
there was no employee in receipt of or entitled to receive emoluments
exceeding the limits prescribed under said section.
THE COMPANIES (DISCLOSURE OF PARTICULRS IN THE REPORT OF BOARD OF
DIRECTORS) RULES 1988.
In terms of the requirement of clause (e) of sub section (1) of section
217 of the Companies Act, 1956 read with the companies (disclosure of
particulars in the report of Board of Directors) Rules, 1988 the
particulars are given as follows:
The Company is engaged in the business of Real Estate and Financing,
hence provisions relating to Energy conservation and Technology
absorption are not applicable. There is no foreign exchange
earnings/outgo during the year.
DIRECTORS RESPONSIBILITY STATEMENT PURSUANT TO SECTION 217(2AA) OF THE
COMPANIES ACT, 1956
As required u/s 217 (2AA) of the companies Act, 1956, we hereby
confirm:
(i) that in the preparation of the annual accounts, the applicable
accounting standards had been followed along with proper explanations
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 as at 31st March 2010 and the Profit & Loss
for the year ended 31sl March 2010;
(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 for safeguarding the assets of the
Company and for preventing and detecting fraud and other
irregularities;
(iv) That the directors have prepared the annual accounts on a going
concern basis.
ACKNOWLEDGEMENT
The Directors wish to place on record our valued clients, Bankers,
Shareholders for continues their support. The Directors also wish to
express their sincere appreciation to all the staff members for their
contribution to the performance of the company.
By order of the Board
Place : New Delhi ASHOK MITTAL
Date : 29-06-2010 chairman