Mar 31, 2013
Dear Shareholders,
The Directors have great pleasure in presenting the 22nd Annual Report
together with the Audited Accounts of your Company for the financial
year ended 31st March 2013.
1. OPERATIONS
The financial results of the Company for the year ended 31st March 2013
is summarized below:
Rs. in Lacs
Particulars Year ended Year ended
31st March 31st March
2013 2012
Income from Operations ---- ---
Non-operating Income 14.22 9.66
Total Income 14.22 9.66
Total Expenditure 32.82 23.48
Profit/Loss before Depreciation -18.60 -13.82
Interest and Taxation
Interest & Finance Charges ---- ----
Depreciation 0.10 0.12
Profit/Loss before Tax -18.70 -13.93
Provision for Current Taxes ---- ----
Provision for Deferred Taxes ---- ----
Profit/Loss after Tax -18.70 -13.93
Statutory Reserve ---- ----
Balance in Profit & Loss Account -15.80 -1.87
Balance carried to Balance Sheet -34.49 -15.80
Your Company has incurred a loss, of Rs. -18.70 lacs for the financial
year 2012 - 2013 as compared to loss of Rs.-13.93 in the previous year
2011 Â 2012.
DIVIDEND
In order to stream Line Company''s business model, the board of
directors have decided not to declare any dividend for the current
fiscal.
FIXED DEPOSITS
The Company has not accepted any public deposits and , as such, no
amount on account of principal or interest on public deposit was out
standing as on date of balance sheet.
DIRECTORS
Mr. E. Subbarayan Director, and Mr. Jetender Surchander Rao Director
retire by rotation and being eligible offer themselves for
reappointment.
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to the requirement under Section 217(2AA) of the Companies
Act, 1956 the Directors hereby confirm that:
i) in the preparation of the Annual Accounts for the financial year
ended 31st March, 2013 the applicable Accounting Standards have been
followed and there are no material departures;
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 and loss
account of the company for that period;
iii) they have taken proper and sufficient care to the best of their
knowledge and ability for the maintenance of adequate accounting
records in accordance with the provisions of the Act for safeguarding
the assets of the Company and for preventing and detecting fraud and
other irregularities;
iv) they have prepared annual accounts on a going concern basis.
AUDITORS
M/s K Subramanyam & Co, Chartered Accountants, Auditors of the Company,
retire at ensuing Annual General Meeting and have furnished a
certificate under Section 224(1B) regarding their eligibility for
reappointment as the Company''s Auditors for the year 2013 - 14. The
Auditor have certified the Company''s Compliance of the requirements of
Corporate Governance in terms of the Listing Agreement and the same is
enclosed as an annexure to the Corporate Governance Report.
PARTICULARS OF EMPLOYEES
Particulars of the employees of the Company who were in receipt of
remuneration, which in aggregate exceeded the limits fixed under
Section 217 (2A) of the Companies Act, 1956 and Companies (Particulars
of Employees) Rules 1975 is not applicable to the company for the year.
PARTICULARS AS 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 Conservation of Energy.
The Company had taken steps to conserve energy in its office use,
consequent to which energy consumption has been minimized. Since the
company has not carried on industrial activities, disclosures regarding
impact of measures on cost of production of goods, total energy
consumption, etc., are not applicable.
Technology Absorption:-
The company has not adopted / intends to adopt any technology for its
business and hence no reporting is required to be furnished under this
heading.
Foreign Exchange Inflow & Outgo:-
Foreign Exchange inflow during the year :- Nil Foreign Exchange outgo
during the year :- Nil
MANAGEMENT DISCUSSION & ANALYSIS REPORT
The Management Discussion & Analysis Report for the year under review,
as stipulated under Clause 49 of the Listing Agreements is presented in
a separate section forming part of the Directors Report as Annexure A.
CORPORATE GOVERNANCE
Your Company is committed to maintain the highest standards of
Corporate Governance. Your Directors adhere to the requirements set out
by the Securities Exchange Board of India''s, Corporate Governance
Practices and have implemented all the stipulations prescribed. Report
on Corporate Governance as stipulated in Clause 49 of the Listing
Agreement is presented in a separate section forming part of the
Directors'' Report as Annexure B.
EXPLANATION TO AUDITORS OBSERVATION
As regards the qualification given by the auditor in Point No. IX
Annexure to Auditor Report. The Company has filed a writ petition and
stay petition with the Honorable High Court of Madras.
COMPANY SECRETARY
The Company is making consistent efforts for appointment of whole time
Company Secretary. The Company has been availing services of practicing
Company Secretary from time to time to ensure compliance of the
provisions of the applicable acts and statutes . Also the Annual Return
of the Company is being certified by practicing Company Secretary from
year to year and the company is also taking certification from them for
Stock Exchanges Compliances .
ACKNOWLEDGEMENT
Your Directors would like to express their grateful appreciation for
assistance and co-operation received from the Financial Institutions,
Banks, Government Authorities, Customers and Members during the year
under review.Your Directors also wish to place on record their deep
sense of appreciation for committed and dedicated services of the
workers, staff, and officers of the Company.
BY THE ORDER OF THE BOARD
FOR ASHRAM ONLINE.COM LIMITED
Sd/-
PLACE : CHENNAI S. PA NNALAL TATIA
DATE : 30.08.2013 CHAIRMAN CUM EXECUTIVE DIRECTOR
Mar 31, 2012
Dear Shareholders,
The Directors have great pleasure in presenting the Twenty First
Annual Report together with the Audited Accounts of your Company for
the financial year ended 31st March 2012
OPERATIONS
The financial results of the Company for the year ended 31st March 2012
is summarized below:
(Rs in Lacs)
Year ended 31st Year ended 31st
Particulars March 2012 March 2011
Income from Operations - -
Non-operating Income 9.66 9.97
Total Income 9.66 9.97
Total Expenditure 23.48 28.10
Profit/Loss before Depreciation,
Interest and Taxation -13.82 -18.13
Interest & Finance Charges 0.00 0.00
Depreciation 0.12 0.16
Profit/Loss before Tax -13.94 -18.29
Provision for Current Taxes 0 0
Provision for Deferred Taxes 0 0
Profit/Loss after Tax -13.94 -18.29
Balance in Profit & Loss Account -1.87 16.42
Balance carried to Balance Sheet 15.8 -1.87
Your Company has incurred a loss, of Rs. (-13.94) lacs for the
financial year 2011-12 as compared to loss of Rs.(18.29) in the
previous year 2010-11.
DIVIDEND
Since the company incurred Loss, no dividend is recommended for the
current financial year by the Board of Directors
FIXED DEPOSITS
The Company has not accepted any public deposits and, as such, no
amount on account of principal or interest on public deposit was out
standing as on date of balance sheet.
DIRECTORS
Ms. C.. Hemamalini and Mr.S. Pannalal Jain Tatia, Directors retire by
rotation and being eligible offer themselves for reappointment.
Mr. Jetender Surchander Rao was appointed as an Additional Director
w.e.f. 6th April, 2012 by the Board of Directors in their meeting held
on the same day. Resolution seeking the approval of the Members for the
appointment has been incorporated in the Notice of the Annual General
Meeting and the brief detail about Mr. Jetender Surchander Rao has been
provided in the Corporate Governance Report.
Mr. Gopal B Ahuja and Mr. Bharat Jain Tatia has resigned their
directorship on 6th April, 2012 and the Board places on record its
appreciation of the invaluable contribution made by them during their
tenure as a Director of the Company.
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to the requirement under Section 217(2AA) of the Companies
Act, 1956 the Directors hereby confirm that:
i) In the preparation of the Annual Accounts for the financial year
ended 31st March, 2012 the applicable Accounting Standards have been
followed and there are no material departures;
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 and loss
account of the company for that period;
iii) They have taken proper and sufficient care to the best of their
knowledge and ability for the maintenance of adequate accounting
records in accordance with the provisions of the Act for safeguarding
the assets of the Company and for preventing and detecting fraud and
other irregularities;
iv) They have prepared annual accounts on a going concern basis.
AUDITOR''S
M/s K Subramanyam & Co, Chartered Accountants, Auditors of the Company,
retire at ensuing Annual General Meeting and have furnished a
certificate under Section 224(1B) regarding their eligibility for
reappointment as the Company''s Auditors for the year 2012 - 13.
PARTICULARS OF EMPLOYEE''S
Particulars of the employees of the Company who were in receipt of
remuneration, which in aggregate exceeded the limits fixed under
Section 217 (2A) of the Companies Act, 1956 and Companies (Particulars
of Employees) Rules 1975 is not applicable to the company for the year.
PARTICULARS AS 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
Conservation of Energy
The Company had taken steps to conserve energy in its office use,
consequent to which energy consumption has been minimized. No
additional Proposals/Investments were made to conserve energy. Since
the company has not carried on industrial activities, disclosures
regarding impact of measures on cost of production of goods, total
energy consumption, etc., are not applicable.
Technology Absorption:-
The company has not adopted / intends to adopt any technology for its
business and hence no reporting is required to be furnished under this
heading.
Foreign Exchange Inflow & Outgo:-
Foreign Exchange inflow during the year :- Nil
Foreign Exchange outgo during the year :- Nil
MANAGEMENT DISCUSSION & ANALYSIS REPORT
The Management Discussion & Analysis Report for the year under review,
as stipulated under Clause 49 of the Listing Agreements is presented in
a separate section forming part of the Directors Report.
CORPORATE GOVERNANCE
Your Company is committed to maintain the highest standards of
Corporate Governance. Your Directors adhere to the requirements set out
by the Securities Exchange Board of India''s, Corporate Governance
Practices and have implemented all the stipulations prescribed. Report
on Corporate Governance as stipulated in Clause 49 of the Listing
Agreement is presented in a separate section forming part of the
Directors'' Report as Annexure A.
EXPLANATION TOAUDITORS OBSERVATION
As regards the qualification given by the auditor in Point No. IX
Annexure to Auditor Report . The Company has filed a writ petition and
obtained stay order from the Honorable High Court of Madras.
REGISTRAR CUM TRANSFER AGENT
The Company appointed M/s Knack Corporate Services Limited as Registrar
and Transfer Agent (RTA) during the year . However M/s. Knack Corporate
Services Private Limited have not completed all required formalities
and provided connectivity on full basis. Only the National Securities
Depository Limited connectivity was shifted to M/ s. Knack Corporate
Services Private Limited. The Central Depository Services ( India)
Limited connectivity is still with M/s. Cameo Corporate Services
Limited due to non completion of formalities by M/s Knack Corporate
Services Private Limited . Knack Corporate Services Private Limited had
requested the company for completing the transfer of The Central
Depository Services ( India) Limited connectivity to them very soon.
COMPANY SECRETARY
The Company is making consistent efforts for appointment of whole time
Company Secretary. The Company has been availing services of practicing
Company Secretary from time to time to ensure compliance of the
provisions of the applicable acts and statutes . Also the Annual Return
of the Company is being certified by practicing Company Secretary from
year to year and the company is also taking certification from him for
Stock Exchange Compliances.
ACKNOWLEDGEMENT
Your Directors would like to express their grateful appreciation for
assistance and co-operation received from the Financial Institutions,
Banks, Government Authorities, Customers and Members during the year
under review. Your Directors also wish to place on record their deep
sense of appreciation for committed and dedicated services of the
workers, staff, and officers of the Company.
BY THE ORDER OF THE BOARD
FOR ASHRAM ONLINE .COM LIMITED
Sd/-
S. PANNALAL TATIA
CHAIRMAN CUM EXECUTIVE DIRECTOR
PLACE: CHENNAI
DATE : 30th August 2012
Mar 31, 2010
The Directors have great pleasure in presenting the 19th Annual Report
together with the Audited Accounts of your Company for the financial
year ended 31st March 2010
OPERATIONS
The financial results of the Company for the year ended 31st March 2010
is summanzed below:
(Rs in Lacs)
Year ended 31st Year ended 31st
Partculars March 2010 March 2009
Income from Operations - -
Non-operating Income 13.54 10.23
Total Income 13.54 10.23
Total Expenditure 26.09 28.11
Profit before Depreciation,
Interest and Taxation -12.55 -17.88
Interest & Finance Charges 0.00 0.00
Depreciation 0.23 0.29
Profit before Tax -12.78 -18.17
Provision for Current Taxes 0 0
Provision for Deferred
Taxes 0 0.03
Profit after Tax -12.78 -18.13
Balance in Profit & Loss
Account 29.21 47.33
Balance carried to Balance
Sheet 16.42 29.20
Your Company has incurred a loss of Rs. (-12.78) lacs for the financial
year 2009-10 as compared to loss of in the previous year 2008-09
DIVIDEND
Since the company incurred Loss no dividend is recommended for the
current financial year by the Board of Directors
FIXED DEPOSITS
The Company has not accepted any public deposits and , as such, no
amount on account of principal or interest on public deposit was out
standing as on date of balance sheet
DIRECTORS
Mr S. Pannalal Tatia and Mr.Gopal B Ahuja . Directors retire by
rotation and being eligible offer themselves for reappointment
During the year Ms. D. Ruby has resigned her directorship The Board
places on record Ms appreciation of the invaluable contribution made by
her during her tenure as a Director of the company
Mr Bharat Jain Tatia explained his inability to continue as Managing
Director due to his personal reason The Board accepted the resignation
and expressed its sincere thanks for the services rendered by him. On
considerning his rich caliber and contribution to the Company, it was
decided by the Board to avail his service by continuing his service as
Non-Executive Director in the Board
Appointment of Additional Director
During the year Ms. D. Hemamalini is appointed as the Additional
Director on 31.03,2010 according to Section 260 of the Company Act,
1956.
Change in Designation- Mr. S. Pannalal Tatia à Director is re-
designated as Executive Director cum Compliance officer of Company
RESIGNATION
During the year Ms. D Ruby has ceased to be Director due to resignation
The Board places on record its appreciation of the invaluable
contribution made by her during her tenure as a Director of the company
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to the requirement under Section 217(2AA) of the Companies
Act, 1956 the Directors hereby confirm that:
i) In the preparation of the Annual Accounts for the financial year
ended 31- March, 2010 the applicable Accounting Standards have been
followed and there are no material departures;
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 and loss
account of the company for that period;
iii) They have taken proper and sufficient care to the best of their
knowledge and ability for the maintenance of adequate accounting
records in accordance with the provisions of the Act for safeguarding
the assets of the Company and for preventing and detecting fraud and
other irregularities;
iv) they have prepared annual accounts on a going concern basis
AUDIT COMMITTEE
The Audit Committee that was constituted pursuant to Section 292 A of
the Companies Act. 1956 has Mr Gopal B Ahuja ( Chairmen) Mr S.
Pannnalal Tatia and Ms D Hemamalini as its Members
AUDITORS
Mis K Subramanyam & Co, Chartered Accountants, Auditors of the Company,
retire at ensuing Annual General Meeting and have furnished a
certificate under Section 224(1B) regarding their eligibility for
reappointment as the Companys Auditors for the year 2010 - 11
PARTICULARS OF EMPLOYEES
Particulars of the employees of the Company who were in receipt of
remuneration, which in aggregate exceeded the limits fixed under
Section 217 (2A) of the Companies Act, 1956 and Companies (Particulars
of Employees) Rules 1975 is not applicable to the company for the year.
PARTICULARS AS 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
Conservation of Energy
The Company had taken steps to conserve energy in its office use,
consequent to which energy consumption has been minimized No additional
Proposals/Investments were made to conserve energy Since the company
has not carried on industrial activtiies, disclosures regarding impact
of measures on cost of production of goods, total energy consumption
etc.. are not applicable.
Technology Absorption:-
The company has not adopted I intends to adopt any technology for its
business and hence no reporting is required to be furnished under this
heading.
Foreign Exchange Inflow & Outgo:-
Foreign Exchange inflow during the year:- Nil
Foreign Exchange outgo during the year :- Nil
MANAGEMENT DISCUSSION & ANALYSIS REPORT
The Management Discussion & Analysis Report for the year under review,
as stipulated under Clause 49 of the Listing Agreements is presented in
a separate section forming part of the Directors Report
CORPORATE GOVERNANCE
Your Company is committted to maintain the highest standards of
Corporate Governance Your Directors adhere to the requirements set out
by the Securities Exchange Board of Indias. Corporate Governance
Practices and have implemented all the stipulations prescribed. Report
on Corporate Governance as stipulated in Clause 49 of the Listing
Agreement is presented in a separate section forming part of the
Directors Report
EXPLANATION TO AUDITORS OBSERVATION
As regards the qualification given by the auditor in Point No. ix
Annexure to Auditors Report. The company has filed a writ petition and
obtained stay order from the Honorable High Court of Madras.
ACKNOWLEDGEMENT
Your Directors would like to express their grateful appreciation for
assistance and co-operation received from the Financial Institutions.
Banks. Government Authorities. Customers and Members during the year
under review
Your Directors also wish to place on record their deep sense of
appreciation for committed and dedicated sen/ices of the workers,
staff, and officers of the Company
BY THE ORDER OF THE BOARD
FOR ASHRAM ONLINE COM LIMITED
Sd/-
S.PANNALAL TATIA
CHAIRMAN
PLACE: CHENNAI
DATE : 2nd September 2010
Mar 31, 2009
The Directors have great pleasure in presenting the 18th Annual Report
together with the Audited Accounts of your Company for the financial
year ended 31st March 2009.
OPERATIONS
The financial results of the Company for the year ended 31st March 2009
is summarized below:
(Rs in Lacs)
Particulars Year ended 31st Years ended 31st
March 2009 March 2008
Income from Operations 703.32
Non-operating Income 10.23 6.64
Total Income 10.23 709,96
Total Expenditure 28.11 707,39
Profit before Depreciation,
Interest and Taxation -17.86 2.57
Interests, Finance Charges 0,00 0.07
Depreciation 0.29 0.35
Profit before tax -18.17 2.15
Provision tor Current Taxes 0 0.33
Provision for Deferred Taxes 0.03 0
Profit after Tax -18.13 1.82
Balance in Profit & Loss Account 47.33 45.51
Balance carried to Balance Sheet 9.20 47.33
Your Company has incurred a loss of Rs. 18.13 lacs for the financial
year 2008-09 as compared to profit of Rs. 1.82 lacs In the previous
year 2007 08
DIVIDEND
Due to on going business constraints to maintain operating
profitability, the board of directors have decided not to declare any
dividend for the current fiscal.
FIXED DEPOSITS
The company has not invited or accepted any Fixed Deposits from the
public.
DIRECTORS
Mr. E. Subbarayan and Ms. D. Ruby, Directors retire by rotation and
being eligible offer themselves for reappointment.
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to the requirement under Section 217(2AA) of the Companies
Act, 1956 the Directors hereby confirm that:
i) In the preparation of the Annual Accounts for the financial year
ended 31stMarch, 2009 the applicable Accounting Standards have been
followed and there are no material departures;
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 and loss
account of the company for that period;
iii) They have taken proper and sufficient care to the besl of their
knowledge and ability for the maintenance of adequate accounting
records in accordance with the provlsions of the Act for safeguarding
the assets. of the Company and for preventing and detecting fraud and
other irregularities:
(V) They have prepared annual accounts on a going concern basis.
AUDITORS
M/s K Subramanyam & Co. Chartered Accountants. Auditors of the Company,
retire at ensuing Annual General Meeting and have furnished a
certificate under Section 224(1B) regarding their eligibility for
reappointment as the Companys Auditors for the year 2008 -09.
PARTICULARS OF EMPLOYEES
Particulars of the employees of the Company who were in receipt of
remuneration, which in aggregate exceeded the limits fixed under
Section 217 (2A) of the Companies Act. 1856 and Companies (Particulars
of Employees) Rules 1975 is not applicable to the company for the year
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNING
AND OUTGO
As the company is not an industrial undertaking, accordingly,
particulars with regard to conservation of energy and technology
absorption and adaptation required to be given under these heads in
accordance with the provisions of
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 are not applicable.
There is no reportable information on Foreign Exchanges Earnings and
Outgo during the review under review.
MANAGEMENT DISCUSSION & ANALYSIS REPORT
The Management Discussion & Analysis Report for the year under review,
as stipulated under Clause 49 of the Listing Agreements is presented in
a separate section forming part of the Directors Report
CORPORATE GOVERNANCE
Vouc Company is committed to maintain the highest standards of
Corporate Governance. Your Directors adhere to the requirements set out
by the Securities Exchange Board of Indias, Corporate Governance
Practices and have implemented all the stipulations prescribed. Report
on Corporate Governance as stipulated in Clause 49 of the Listing
Agreement is presented in a separate section forming part of the
Directors Report.
EXPLANATION TO AUDITORS OBSERVATION
The company has filed a writ petition and obtained stay order form the
Honourable High Court of Madras.
ACKNOWLEDGEMENT
Your Directors would like to express their grateful appreciation for
assistance and co-operation received from the Financial Institutions,
Banks, Government Authorities, Customers and Memhers during the year
under review,
Your Directors also wish to place on record their deep sense of
apprecation for committed and dedicated services of the workers, staff,
and officers of the Company
BY THE ORDER OF THE BOARD
FOR ASHRAM ONLINE COM LIMITED
Sd/-
S.PANNALALTATIA
CHAIRMAN
PLACE:CHENNAI
DATE : 2nd September, 2009