Mar 31, 2014
Dear Members.
The Directors have pleasure in presenting the Annua] Report on the
business and operations of Company together with the Audited Statement
of accounts for tho year ended on 3 I st March. 2014.
Fhiutitiaf and Operational Results
Financial and operations) Results of Company for the year ended 31st
March. 2014 arc as mentioned hereunder:1
(Amt in Rs.)
Particulars Current Financial Year Previous Financial Year
31st March, 2014 31st March, 2013
Total Income 9,05,004 902.904
Less: Rxpenses 2,40,545 127,386
Net Profit/ Loss
before Tax 6,64,459 775.518
Less: Provision for Tax NIL Nll
Net Profit/ (Net Loss)
after Tax 6,64,459 775.318
Add: Balance of
profit brought 38,88,885 3,113,367
forward from previous
year
Total Reserves and
Surplus 45,53,344 3,888,885
Performance of the Company:
During the year under review, your Company earned a total Income of
Rs. 9,05,004/- and the total expenditure amounted 10 Rs. 2,40.545/-.
Thus profit earned by Company is Rs. 6,64.459/. The accumulated
Balance carried forward to rhe Reserves and Surplus of Company stands
al Rs.45.53,344/-
Dividettd:
Your Directors have not recommended for any dividend for the year under
review with a view lo conserve the resources or Company.
Directors:
Mr Jaycsh B. Bhansali. Diredor of the Company shall be liable to retire
by rotation hi Ihe forthcoming Annual .General Meeting and is eligible
for re-appointment. 1 he Board recommends his re-appointment.
Statutory Auditor:
M/s 8. L. Dash.arda & Associates, Chartered Accountants (Firm
Registration No: I12615W), the Staluioiy Auditors of lhe Company will
retire al ihe ensuing Annual General Meeting and have continued their
eligibility and willingness to accept office, if reappointed.
Your Directors recommend the appointment M/s B, I... Dasharda &
Associates. Chartered Accountants, as Statutory Auditors of company by
he year 20.14-2015.
Auditors'' Report:
The observations made by the Auditors in their Report read with tfie
relevant notes as given in hu rJotes io Ihc Financial Statement for
the year ended 31 si March, 2014 are self explanatory and being devoid
of an} reservation, qualification or adverse remarks, does nol call for
any farther information/explanation under Section 217(3) of (he
Companies Act, 1956..
SECRETARIAL AUDTTORS
Mfs Ratlii & Associates, Practicing Company Secretaries, have been
appointed as. Secretarial Audilor of Company for FY 2014-15. who will
conduct ihe requisite Secretarial audit of the company,
Deposits:
The Company has nol accepted any Deposit within the meaning of" Section
5SA of the Companies Act, 1956 read wilh the Companies (Acceptance of
Deposit) Rules, 1975 from the public during the year under review
Pursuant to the proviso of Section 383 A (I) of the Companies Act. 1956
read with the Companies (Compliance Certificate} Rules 2001.the
Secretarial Compliance Certificate obtained from M/s, Rathi &.
Associates. Company Secretaries in Whole-time Practice, is annexed to
this report forming its integral part.
Particulars of Employees:
During the year ended 31st March, 2014, no employee of the company was
in receipi of remuneration equal to or exceeding the limits as
prescribed under Section 217(2A) or the Companies Act. 1956 read with
the Companies (Particulars of tmployees) Rules, 1975 as amended, hence
no statement is required to be annexed in this regard.
The requirements of disclosures in terms of Section 217 ([) (e) of the
Companies Act. 1956, read with the Companies (Disclosures or l he
Particulars in the Rejjori of the Board of Directors) Rules. 1 S)K8
pertaining io the conservation of energy and technology absorption are
not applicable to tijje Company due to the very nature of the industry
in which the Company operates.
During the year under review, there was no foreign exchange earnings
and outgo.
Directors responsibility Statement:
Pursuant to Section 2I7(2AAj of the Companies AcL 10^6. your Directors
based on the representations received from the management and after due
inquiry, confirm that:
-In the preparation, of the Annual Accounts, the applicable Accounting
Slandafds have been followed arid no deviations have been made.
-That the Directors have selected such accounting policies and applied
them consistently and made judgment and tslimates that are reasonable
and prudent so as 10 give a true and.fair view of the state of affairs
of the Company at the end of the financial earand of the profit of the
Company for that year.
- That ihe Directors have taken proper and sufficient care for (he
maintenance of adequate accounting records in accordance with the
provisions of this Aei for safeguarding ihe assets of the Company and
for preventing and detecting fraud and other irregularities.
- That Ihe Directors have prepared the Annual Accounts for the year
ended 31St March, 2014 on a going concern basis.
Acknowledgement:
Your Directors wish to place on record iheir deep appreciation and
hearTfch thanks to the Banks.
Statutory Authorities, Govern merit, Customers. Vendors, Stakeholders
and other related organizations who through their continued support and
patronage have enabled the company lo function smoothly and grow in
such competitive environment. Your Directors express their deep
appreciation lo the Company''s employees at all levels for their hard
work, dedication, commitments outstanding efforts and valuable
contributions made In all spheres of the operations of Com pan v.
For and on behalf of the Board uf Directors
Place: Mumbai
Dated: 30th May. 20J4 Mr. BM. Bhansali Mr. Jayesh B. JJhansali
Director Director
(DIN :00102930)
Mar 31, 2013
Dear Members,
The Directors have pleasure in presenting the Annual Report on the
business and operations of Company together with the Audited Statement
of accounts for the year ended on 31SI March. 2013.
Financial and Operational Results
Financial and operational Results of Company for the year ended 31"
March. 2013 areas mentioned hereunder;
(Amt in)
Particulars Current
Financial
Year 31*'' Previous
Financial
March, 2013
Year31sl
Marh,2012
Total Income 902,904 995,414
Less Expenses 127,386 787,951
Profit/ (Loss) before Tax 775,518 207,463
Less. Provision for Tax NIL NIL
Net Prof!/(Net Loss) after Tax 775,518 207,463
Add: Balance of Profit
brought forward 3,113,367
from previous year 2,905,904
Total Reserves and Surplus 3,888,885 3,113,367
Performance of the Company:
During the year under review, your Company earned a total Income of Rs.
902, 904/- and the total expenditure amounted to Rs. 1.27,386/-. Thus
profit earned by Company is Rs. 775.518/-. The accumulated Balance
carried forward to the Reserves and Surplus of Company stands at Rs.
3,888,885/-.
Dividend:
Your Directors have not recommended for any divided for the year under
review with a view to conserve the resources of Company.
Directors:
Mr. B.M. Bhansali. Director of the Company shall be liable to retire by
rotation at the forthcoming Annual General Meeting and is eligible for
re-appointment. The Board recommends his re-appointment.
Directors'' Responsibility Statement:
Pursuant to Section 217(2AA) of the Companies Act, 1956, your Directors
based on the representations received from the management and after due
inquiry, confirm that:
¦ In the preparation of the Annual Accounts, (he applicable Accounting
Standards have been followed and no deviations have been made.
¦ 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 slate of affairs
of the Company at the end of the financial year and of the profit of
the Company for that year.
¦ Thai the Directors have laken proper and sufficient care for ihe
maintenance of adequate accounting records in accordance with the
provisions of this Act for safeguarding the assets of the Company and
for preventing and detecting fraud and other irregularities.
¦ That the Directors have prepared the Annual Accounts for the year
ended 3" March. 2013 on a going concern basis.
Statutory Auditors:
M/s B. L. Dasharda & Associates, Chartered Accountants (Firm
Registration No: 112615W), the Statutory Auditors of the Company will
retire at Ihe ensuing Annual General Meeting and have confirmed their
eligibility and willingness to accept office, if re-appointed.
Your Directors recommend the appointment M/s B. L. Dasharda &
Associates, Chartered Accountants, as Statutory Auditors of company for
the year 2013-20)4.
A uditors'' Report:
The observations made by the Auditors in their Report read with the
relevant notes as given in Ihe Notes to the Financial Statement for the
year ended 31" March, 2013 arc self explanatory and being devoid of any
reservation, qualification or adverse remarks, docs not call for any
further information/explanation under Section 217(3) of the Companies
Act, 1956.
Deposits:
The Company has not accepted any Deposit, within the meaning of Section
58A of the Companies Act, 1956 read with the Companies (Acceptance of
Deposit) Rules, 1975 from the public during the year under review.
Secretarial Compliance Certificate:
Pursuant to the proviso of Section 383 A (1) of the Companies Act. 1956
read with the Companies (Compliance Certificate) Rules 2001.the
Secretarial Compliance Certificate obtained from M/s. Rathi &
Associates. Company Secretaries in Whole-lime Practice, is annexed to
this report forming its integral part.
Particulars of Emph vees:
During the year ended 31" March, 2013, no employee of the company was
in receipt of remuneration equal to or exceeding the limits as
prescribed under Section 217(2A) of the Companies Aci, 1956 read with
the Companies (Particulars of Employees) Rules, 1975 as amended, hence
no statement is required to be annexed in this regard.
Conservation of Energy, Technology Absorption. Foreign Exchange
Earnings and Outgo:
The requirements of disclosures in terms of Section 217 (I) (e) of the
Companies Act. 1956, read with the Companies (Disclosures of the
Particulars in the Report of the Board of Directors) Rules, 1988
pertaining to the conservation of energy and technology absorption are
not applicable to the Company due to the very nature of ihe industry in
which the Company operates.
During the year under review, there was no foreign exchange earnings
and outgo.
Acknowledgement:
Your Directors wish 10 place on record their deep appreciation and
heartfelt thanks to the Banks, Statutory Authorities, Government.
Customers, Vendors, Stakeholders and other related organizations who
through their continued support and patronage have enabled the company
to function smoothly and grow in such competitive environment. Your
Directors express their deep appreciation to the Company''s employees at
all levels for their hard work, dedication, commitment- outstanding
efforts and valuable contributions made in all spheres of the
operations of Company.
For and on behalf of the Board of Directors
Place: Mumbai
Dated: 26"1 May, 2013 Chairman
Mar 31, 2012
The Directors have pleasure in presenting their Annual Report on the
business operations of the Company together with the Audited Statement
of Accounts for the year ended on 31st March, 2012
Financial and Operational Results
Financial and operational Results of Company for the year ended 31st
March, 2012 are as mentioned hereunder:
(Amt in Rupees)
Particulars Year Ended Year Ended
31st March, 2012 31stMarh,2011
Total Income 995,414 31,300
Total Expenses 787951 75560
Profit/ (Loss) before Tax 207,463 (44,260)
Less: Provision for Tax 0 0
Less: Income Tax of earlier year 0 0
Net Profit/ (Net Loss) after Tax ; 207,463 (44,260)
Add: Balance of Profit brought
forward from 2,905,904 2,950,164
previous year
Reserves and Surplus 3,113,367 2,905,904
Dividend:
Your Directors have not recommended for dividend for the financial year
2011-2012 with a view to conserve the resources with Company
Directors:
Mr Jayesh B Bhansali Director of the Company shall be liable to retire
by rotation at the forthcoming Annual General Meeting and is eligible
for re-appointment The Board recommends for his re-appointment
Directors' Responsibility Statement:
Pursuant to Section 217(2AA) of the Companies Act, 1956, your Directors
based on the representations received from the management and after due
inquiry, confirm that:
In the preparation of the annual accounts, the applicable standards
have been followed and no deviations have been made
the Directors have selected such accounting policies and applied them
consistently and made judgments and estimates that are reasonable and
prudent so as to give a true and fair view of the state of affairs of
the Company at the end of the financial year and of the profit of the
Company for that year
the Directors have taken proper and sufficient care for the maintenance
of adequate accounting records in accordance with the provisions of
this Act for safeguarding the assets of the Company and for preventing
and detecting fraud and other irregularities
the Directors have prepared the attached Statement of Accounts for the
year ended 31st March, 2012 on a going concern basis
Auditors:
M/s B L Dasharda & Associates Chartered Accountants, Auditors of the
Company retiring at the ensuing Annual General Meeting is eligible for
re-appointment The Company has received a eligibility certificate from
the Auditors to the effect that their appointment, if made, would be
within the prescribed limits under Section 224(1 B) of the Companies
Act, 1956 The Board recommends for the re-appointment of Statutory
Auditors
Auditors' Report:
The Audit Report being devoid of any qualification and self
explanatory, do not call for any further comments under Section 217(3)
of the Companies Act, 1956
Deposits:
The Company has not accepted or renewed any deposit from public during
the year under review Secretarial Compliance Certificate:
Pursuant to the proviso of Section 383 A (1) of the Companies Act, 1956
read with the Companies (Compliance Certificate) Rules 2001,the
Secretarial Compliance Certificate obtained from M/s Rathi &
Associates, Company Secretaries in Whole-time Practice, is annexed to
this report forming its integral part
Particulars of Employees:
During the year under review, none of the employees of the Company was
in receipt of remuneration equal to or exceeding the limits as
prescribed viz Rs 60,00,000 per annum or Rs 5,00,000 per month under
Section 217 (2 A) of the Companies Act 1956 read with Companies
(Particulars of Employees) Rules, 1975 Hence, no statement is required
to be annexed in this respect Conservation of Energy, Technology
Absorption Foreign Exchange Earnings and Outgo: The requirements of
disclosures in terms of Section 217 (I) (e) of the Companies Act, 1956,
read with the Companies (Disclosures of the Particulars in the Report
of the Board of Directors) Rules, 1988 pertaining to the conservation
of energy and technology absorption are not applicable to the Company
due to the very nature of the industry in which it operates
During the year under review, there was no foreign exchange earnings
and outgo
Acknowledgements:
The Directors wish to express their gratitude to the bankers, clients
and all the business associates for their continuous support to the
Company and to the Shareholders for the confidence reposed in the
Company's management The Directors also convey their appreciation to
the employees at all levels for their enormous personal efforts as well
as collective contribution
For and on behalf of the Board of Directors
Place: Mumbai
Dated: 10th August, 2012 Chairman
Mar 31, 2011
Dear Members,
The Directors have pleasure in presenting their Annual Report on the
business operations of the Company and the Audited Accounts for the
year ended 31st March. 2011.
Financial Results:
(Amt in Rupees)
Particulars Year Ended 31st Year Ended 31st
March, 2011 March, 2010
Total Income 31,300 30,800
Profit/(Loss) before Tax (44,260) (9,290)
Less: Provision for Tax 0 0
Less: Income Tax of earlier year 0 0
Net Profit/ (Net Loss) after Tax (44,260) (9,290)
Add: Balance of Profit brought
forward from 2,950,164 2,959,454
previous year
Balance carried forward to
Balance Sheet 2,905,904 2,950,164
Performance of the Company:
During the year under review, your Company earned a total Income of Rs.
31,300/- comprising mainly of Commission and Dividend. The total
expenditure incurred by the Company has amounted to Rs. 75.560/-. This
has led to loss of Rs. 44,260/-. The Balance carried forward to the
Balance Sheet is Rs. 29,05,904/-.
Your Company continues to be cautiously optimistic about its growth
prospects for the current financial year.
Dividend:
Your Directors have not recommended payment of divided for the year
under review with a view to conserve the resources.
Directors:
Mr. Lalitkumar M. Bhansali. Director of the Company, shall be liable to
retire by rotation at the forthcoming Annual General Meeting and is
eligible for re-appointment. The Board recommends his re-appointment.
Directors' Responsibility Statement:
Pursuant to Section 217(2AA) of the Companies Act, 1956, your Directors
confirm the following:
- In the preparation of the annual accounts, the applicable standards
have been followed and no deviations have been made.
- 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 sate of affairs
of the Company at the end of the financial year end and of the profit
of the Company for that year.
- that the Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of this Act for safeguarding the assets of the Company and
for preventing and detecting fraud and other irregularities.
- that the Directors have prepared the attached Statement of Accounts
for the year ended March, 31 2011 on a going concern basis.
Auditors:
M/s. B. L. Dasharda & Associates, Chartered Accountants, Auditors of
the Company retire at the ensuing Annual General Meeting is eligible
for re-appointment. The Company has received a certificate from the
Auditors to the effect their their appointment, if made, would be
within the prescribed limits under Section 224 (1B) of the Companies
Act. 1956 The members arc requested to appoint the Auditors for the
current year and authorize the Board to fix their remuneration.
Auditors' Report:
Observations made in the Auditors' Report are self-explanatory and
therefore, do not call for any further comments under Section 217(3) of
the Companies Act, 1956.
Fixed Deposits:
The Company has not accepted or renewed any deposit from public during
the year under review.
Secretarial Compliance Certificate:
Pursuant to the proviso of Section 383 A (1) of the Companies Act, 1956
read with the Companies (Compliance Certificate) Rules 2001, the
Secretarial Compliance Certificate obtained from M/s. Rathi &
Associates, Company Secretaries in Whole-time Practice, is attached to
this report.
Particulars of Employees:
During the year under review, none of the employees of the Company was
in receipt of remuneration aggregating Rs. 60,00,000/- or more per
annum, if employed throughout the year, or Rs. 5.00,000/- or more per
month, in case employed for part of the year. Hence there are no
particulars to be annexed to this report as required under Section 217
(2 A) of the Companies Act. 1956 and the rules made thereunder
Conservation of Energy. Technology Absorption. Foreign Exchange
Earnings and Outgo:
The requirements of disclosures in terms of Section 217 (l)(c) of the
Companies Act, 1956, read with the Companies (Disclosures of the
Particulars in the Report of the Board of Directors) Rules. 1988
pertaining to the conservation of energy and technology absorption are
not applicable to the Company due to the very nature of the industry in
which it operates.
During the year under review, there was no foreign exchange earnings
and outgo.
Acknowledgements:
The Directors wish to express their gratitude to the bankers, clients
and all the business associates for their continuous support to the
Company and to the Shareholders for the confidence reposed in the
Company's management. The Directors also convey their appreciation to
the employees at all levels for their enormous personal efforts as well
as collective contribution.
For and on behalf of the Board
Director Director
Place: Mumbai
Dated: 12th August, 2011
Mar 31, 2010
The Directors have pleasure in presenting their Annual Report on the
business operations of the Company and the Audited Accounts for the
year ended 31st March, 2010.
Financial Results:
(Amt in Rupees)
Particulars Year Ended 31st Year Ended 31st March,
2010 March,
2009
Total Income 30,800 897,400
Profit/ (Loss) before Tax (9,290) 818,762
Less: Provision for Tax 0 99,060
Less: Income Tax of
earlier year 0 0
Net Profit/ (Net Loss)
after Tax (9,290) 719,702
Add: Balance of Profit
brought forward from 2,959,454 2,239,752
previous year
Balance carried forward
to Balance Sheet 2,950,164 2,959,454
Performance of the Company:
During the year under review, your Company earned a total Income of Rs.
30,800/- comprising mainly of Commission and Dividend. The total
expenditure incurred by the Company has amounted to Rs. 40,090/-. This
has led to loss of Rs. 9,290/-. The Balance carried forward to the
Balance Sheet is Rs. 29,50,164/-.
Your Company continues to be cautiously optimistic about its growth
prospects for the current financial year.
Dividend:
Your Directors have not recommended payment of divided for the year
under review considering the need to improve the net worth of the
Company.
Directors:
Mr. B. M. Bhansali, Director of the Company, shall be liable to retire
by rotation at the forthcoming Annual General Meeting and is eligible
for re-appointment. The Board recommends his re-appointment.
Directors Responsibility Statement:
Pursuant to Section 217(2AA) of the Companies Act, 1956, your Directors
confirm the following:
-In the preparation of the annual accounts, the applicable standards
have been followed and no deviations have been made.
-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 sate of affairs
of the Company at the end of the financial year end and of the profit
of the Company for that year.
-that the Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of this Act for safeguarding the assets of the Company and
for preventing and detecting fraud and other irregularities.
- that the Directors have prepared the attached Statement of Accounts
for the year ended March, 31 2010 on a going concern basis.
Auditors:
M/s. B. L. Dasharda & Associates, Chartered Accountants, Auditors of
the Company retire at the ensuing Annual General Meeting and being
eligible offer themselves for re-appointment. The Company has received
a certificate from the Auditors to the effect that their appointment,
if made, would be within the prescribed limits under Section 224(1B) of
the Companies Act, 1956. The members are requested to appoint the
Auditors for the current year and authorize the Board to fix their
remuneration.
Auditors Report:
Observations made in the Auditors Report are self-explanatory and
therefore, do not call for any further comments under Section 217(3) of
the Companies Act, 1956.
Fixed Deposits:
The Company has not accepted or renewed any deposit from public during
the year under review.
Secretarial Compliance Certificate:
Pursuant to the proviso of Section 383 A (1) of the Companies Act, 1956
read with the Companies (Compliance Certificate) Rules 2001,the
Secretarial Compliance Certificate obtained from M/s. Rathi &
Associates, Company Secretaries in Whole-time Practice, is attached to
this report.
Particulars of Employees:
During the year under review, none of the employees of the Company was
in receipt of remuneration aggregating Rs. 24,00,000/- or more per
annum, if employed throughout the year, or Rs. 2,00,000/- or more per
month, in case employed for part of the year. Hence there are no
particulars to be annexed to this report as required under Section 217
(2A) of the Companies Act, 1956 and the rules made thereunder.
Conservation of Energy, Technology Absorption, Foreisn Exchange
Earnings and Outgo:
The requirements of disclosures in terms of Section 217 (l)(e) of the
Companies Act, 1956, read with the Companies (Disclosures of the
Particulars in the Report of the Board of Directors) Rules, 1988
pertaining to the conservation of energy and technology absorption are
not applicable to the Company due to the very nature of the industry in
which it operates.
During the year under review, there was no foreign exchange earnings
and outgo.
Acknowledgements:
The Directors wish to express their gratitude to the bankers, clients
and all the business associates for their continuous support to the
Company and to the Shareholders for the confidence reposed in the
Companys management. The Directors also convey their appreciation to
the employees at all levels for their enormous personal efforts as well
as collective contribution.
For and on behalf of the Board
Place: Mumbai
Dated: 31st May, 2010 Director Director
Mar 31, 2009
The Directors have pleasure in presenting their Annual Report on the
business operations of the Company alongwith the Statement of Audited
Accounts for the year ended 31st March, 2009.
Financial Results:
(Amt. in Rs.)
Particulars Year Ended 31st Year Ended 31st
March 2009 March 2008
Total Income 897,400 892,100
Profit/ (Loss) before Tax 818,762 858,686
Less: Provision for Tax 99,060 0
Net Profit after Tax 719,702 858,686
Less: Provision for taxation
of earlier years 0 0
Add: Excess provision for
taxation of earlier 0 0
years written back
Less: Balance of Profit
brought forward from 2,239,752 1,381,066
last year.
Balance earned forward to
Balance Sheet 2,959,454 2,239,752
Year under Review:
During the year under review, your Company earned total Income of Rs.
897,400/- comprising mainly of dividend income. Against this, the total
expenses amounted to Rs. - 78,638/- incurred by the Company. This has
led to a profit of Rs. 818,762/- as compared to a profit of Rs.
858,686/- before tax during the previous year. After adjusting thereto
the balance of profit forward from last year of Rs. 2,239,752/-, a
balance of profit of Rs. 2,959,454/- has been carried forward to the
Balance Sheet.
Your Company continues to be cautiously optimistic about its growth
prospects for the current financial year.
Dividend:
Your Directors do not recommend any dividend for the year under review.
Directors:
In accordance with the provisions of the Companies Act, 1956 and the
Articles of Association of the Company, Mr. Jayesh Bhansali, Director
of the Company, shall retire by rotation at the forthcoming Annual
General Meeting and is eligible for re- appointment. The Board of
Directors recommends his re-appointment.
Directors Responsibility Statement:
Pursuant to Section 217(2AA) of the Companies Act, 1956, your Directors
confirm the following:
- In the preparation of the annual accounts, the applicable standards
have been followed.
- Your Directors have selected such accounting policies and applied
them consistently and made judgments and estimates that are reasonable
and prudent so as to give a true and fair view of the state of affairs
of the Company at the end of the financial year and of the profit of
the Company for that year.
- Your Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of this Act for safeguarding the assets of the Company and
for preventing and detecting fraud and other irregularities.
- Your Directors have prepared the attached Statement of Accounts for
the year ended March 31, 2009 on a going concern basis.
Auditors:
M/s. B. L. Dasharda & Associates, Chartered Accountants, Auditors of
the Company retire at the ensuing Annual General Meeting and are
eligible for re-appointment. The Company has received a certificate
from the Auditors to the effect that their appointment, if made, would
be within the prescribed limits under Section 224(1B) of the Companies
Act, 1956. The members are requested to appoint the Auditors and
authorise the Board to fix their remuneration.
A uditors Report:
Observations made in the Auditors Report are self-explanatory and
therefore, do not call for any further comments under Section 217(3) of
the Companies Act, 1956.
Fixed Deposits:
The Company has not accepted or renewed any deposit from public during
the year under review.
Secretarial Compliance Certificate:
Pursuant to the proviso to Section 383A(1) of the Companies Act, 1956
read with the Companies (Compliance Certificate) Rules 2001,
Secretarial Compliance Certificate from Ms. Rathi & Associates, Company
Secretaries in Whole time Practice, is attached to the report.
Particulars of Employees:
During the year under review, none of the employees of the Company was
in receipt of remuneration aggregating Rs.24,00,000/- or more per
annum, if employed throughout the seat or Rs.2,00,000/- or more per
month, in case employed for part of the year. Hence, there are no
particulars to be annexed to this report as required under Section 217
(2A) of the companies Act, 1956 and the rules made thereunder.
Conservation of Energy, Technology Absorption, Foreign Exchange
Earnings And Outgo:
The requirements of disclosures in terms of Section 217(l)(e) of the
Companies Act, 1956, read with the Companies (Disclosures of the
Particulars in the Report of the Board of Directors) Rules, 1988
pertaining to the conservation of energy and technology absorption are
not applicable to the Company due to the very nature of the industry in
which it operates.
During the year under review, there was no foreign exchange earnings
and outgo.
Acknowledgements:
The Directors wish to express their gratitude to the bankers, clients
and all the business associates for their continuous support to the
Company and to the Shareholders for the confidence reposed in the
Companys management. The Directors also convey their appreciation to
the employees at all levels for their enormous personal efforts as well
as collective contribution.
For and On behalf of the Board
Place: Mumbai
Dated: 30th June, 2009 Director Director