Mar 31, 2015
Dear Members,
The Directors of your Company have pleasure in presenting their 34th
Annual Report along with audited annual statements of Accounts for the
financial year ended on 31st March, 2015
FINANCIAL RESULTS
(Rs. in Lacs)
Financial Previous
Year ended Year ended
31-3-2015 31-3-2014
Turnover 21 281
Profit/(Loss) before Depreciation 244 20
Depreciation 0 0
Profit/(Loss) before Tax 244 20
Provision for Income Tax
-Current Tax 58 6
- Deferred Tax 0 2
Profit/(Loss) after Tax 186 12
Balance brought forward (548) (560)
Balance carried forward (362) (548)
OPERATIONS
the manufacturing operations of the Company have come to a stand still.
But trading in yarn and fabric still continue in the year.
DIVIDEND
Your Directors are unable to recommend any Dividend on the Equity
Shares in view of the financial position of the Company.
DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to Section 134 (3) (C) of the Companies Act, 2013 the
Directors state that:
* in the preparation of the Annual Accounts, the applicable accounting
standards have been followed;
* appropriate accounting policies have been selected and applied
consistently and they have made judgements and estimates that are
reasonable and prudent so as to give a true and fair view of the state
of affairs of the Company on 31st March, 2015 and of the profit or loss
of the Company for the financial year ended 31st March, 2015
* proper and sufficient care has been 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;
* the Annual Accounts have been prepared on a going concern basis.
ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO
A Statement of Information relating to Conservation of Energy,
Technology Absorption and Foreign Exchange earnings and outgo as
required under Section 34(3)(m) of the Companies Act, 2013 read with
Companies (Disclosure of particulars in the report of Board of
Directors) Rules,8 of the companies (accounts) Rules, 2014, is given in
Annexure to the Director's Report.
DIRECTORS
One of your Director namely Ashok Kumar Kothari shall retire by
rotation at the ensuring Annual General Meeting and being eligible,
offer themselves for re-appointment. The Board recommends their
re-appointment.
AUDITORS
The Company's Auditors, M/s. CLB & ASSOCIATES., will hold office till
the conclusion of the forthcoming Annual General Meeting and being
eligible offer themselves for re-appointment.
The observations in the Auditors' Report are dealt within the notes to
the accounts at appropriate places and are self-explanatory.
PERSONNEL
There was no employee drawing remuneration in excess of limits
prescribed under Section 197(12) of the Companies Act, 2013 read with,
Rule 5 (1) of the Companies (Particular of Employees) Rules, 2014
ACKNOWLEDGEMENTS
Your Directors appreciate the valuable cooperation and continued
support extended by the Customers, Financial Institutions, Bankers,
State and Central Government. The Board also wishes to place on record
its appreciation for the dedicated services of employees at all levels
of the Company.
for and on behalf of the Board
Place: Bhilwara Ashok Kothari
Date : 29th May 2015 Director
Mar 31, 2013
To The Members,
The Directors of your Company have pleasure in presenting their 32nd
Annual Report along with audited annual statements of Accounts for the
financial year ended on 31st March, 2013.
FINANCIAL RESULTS
(Rs. in Lacs)
Financial Previous Year ended Year ended
31-3-2013 31-3-2012
Turnover 180 310
Profit/(Loss) before Depreciation 7 22
Depreciation 0 0
Profit/(Loss) before Tax 7 22
Provision for Income Tax
- Current Tax 1 4
- Deferred Tax (2) 0
Profit/(Loss) after Tax 8 18
Balance brought forward (568) (586)
Balance carried forward (560) (568)
OPERATIONS
the manufacturing operations of the Company have come to a stand still.
But trading in yarn and fabric still continue in the year.
DIVIDEND
Your Directors are unable to recommend any Dividend on the Equity
Shares in view of the financial position of the Company.
DIRECTORS'' RESPONSIBILITY STATEMENT
Pursuant to Section 217(2AA) of the Companies Act, 1956 the Directors
state that:
in the preparation of the Annual Accounts, the applicable accounting
standards have been followed;
appropriate accounting policies have been selected and applied
consistently and they have made judgements and estimates that are
reasonable and prudent so as to give a true and fair view of the state
of affairs of the Company on 31st March, 2013 and of the profit or loss
of the Company for the financial year ended 31st March, 2013;
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;
the Annual Accounts have been prepared on a going concern basis.
ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO
A Statement of Information relating to Conservation of Energy,
Technology Absorption and Foreign Exchange earnings and outgo as
required under Section 217(1)(e) of the Companies Act, 1956 read with
Companies (Disclosure of particulars in the report of Board of
Directors) Rules, 1988, is given in Annexure to the Director''s Report.
DIRECTORS
Two of your Director namely Ashok Kumar Kothari and Hanuman Pokharna
shall retire by rotation at the ensuring Annual General Meeting and
being eligible, offer themselves for re-appointment. The Board
recommends their re-appointment.
AUDITORS
The Company''s Auditors, M/s. CLB & ASSOCIATES., will hold office till
the conclusion of the forthcoming Annual General Meeting and being
eligible offer themselves for re-appointment.
The observations in the Auditors'' Report are dealt within the notes to
the accounts at appropriate places and are self-explanatory.
PERSONNEL
There was no employee drawing remuneration in excess of limits
prescribed under Section 217(2A) of the Companies Act, 1956 read with
the Companies (Particular of Employees) Rules, 1975.
ACKNOWLEDGEMENTS
Your Directors appreciate the valuable cooperation and continued
support extended by the Customers, Financial Institutions, Bankers,
State and Central Government. The Board also wishes to place on record
its appreciation for the dedicated services of employees at all levels
of the Company.
for and on behalf of the Bo ard
Place: Bhilwara Ashok Kothri
Date : 28th May 2013 Director
Mar 31, 2011
To The Members,
The Directors of your Company have pleasure in presenting their 30th
Annual Report along with audited annual statements of Accounts for the
financial year ended on 31st March, 2011.
FINANCIAL RESULTS
(Rs. in Lacs)
Financial Previous
Year ended Year ended
31-3-2011 31-3-2010
Turnover 135 735
Profit/(Loss) before Depreciation 4 (31)
Depreciation 1 73
Profit/(Loss) before Tax 3 (104)
Provision for Income Tax
-Current Tax 2 0
- Deferred Tax 0 0
Profit/(Loss) after Tax 1 (104)
Balance brought forward (587) (483)
Balance carried forward (586) (587)
OPERATIONS
Due to the exodus of labour and non-viability of the plant, being very
old and inability of the Company to incur capex in view of continuous
losses being incurred for the past ten years and severe recessionary
trend prevalent in the textile industry due to global melt down, the
manufacturing operations of the Company have come to a stand still. But
trading in yarn and fabric still continue in the year.
DIVIDEND
Your Directors are unable to recommend any Dividend on the Equity
Shares in view of the financial position of the Company.
DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to Section 217(2AA) of the Companies Act, 1956 the Directors
state that:
- in the preparation of the Annual Accounts, the applicable accounting
standards have been followed;
- appropriate accounting policies have been selected and applied
consistently and they have made judgements and estimates that are
reasonable and prudent so as to give a true and fair view of the state
of affairs of the Company on 31 st March, 2011 and of the profit or
loss of the Company for the financial year ended 31st March, 2011;
- 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;
- the Annual Accounts have been prepared on a going concern basis.
ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO
A Statement of Information relating to Conservation of Energy,
Technology Absorption and Foreign Exchange earnings and outgo as
required under Section 217(1)(e) of the Companies Act, 1956 read with
Companies (Disclosure of particulars in the report of Board of
Directors) Rules, 1988, is given in Annexure to the Director's Report.
DIRECTORS/AUDITORS
The Company's Auditors, M/s. CLB & ASSOCIATES., will hold office till
the conclusion of the forthcoming Annual General Meeting and being
eligible offer themselves for re-appointment.
The observations in the Auditors' Report are dealt within the notes to
the accounts at appropriate places and are self-explanatory.
PERSONNEL
There was no employee drawing remuneration in excess of limits
prescribed under Section 217(2A) of the Companies Act, 1956 read with
the Companies (Particular of Employees) Rules, 1975.
ACKNOWLEDGEMENTS
Your Directors appreciate the valuable cooperation and continued
support extended by the Customers, Financial Institutions, Bankers,
State and Central Government. The Board also wishes to place on record
its appreciation for the dedicated services of employees at all levels
of the Company.
for and on behalf of the Board
Ashok Kothari
Director
Place : Bhilwara
Date : 14th May 2011
Mar 31, 2010
The Directors of your Company have pleasure in presenting their 29th
Annual Report along with audited annual statements of Accounts for the
financial year ended on 31st March, 20-10.
FINANCIAL RESULTS
(Rs. in crore)
Financial Previous
Year ended Year ended
31st March 31st March,
2010 2009
Turnover 7.35 52.61
Profit/(Loss) before (0.31) (3.91)
Depreciation
Depreciation 0.73 2.55
Profit/(Loss) before Tax (1.04) (6.46)
Provision for Income Tax
- Current Tax 0.00 0.03
- Deferred Tax 0.00 (2.75)
Profit/(Loss) after Tax (1.04) (3.74)
Balance brought forward (4.83) (1.09)
Balance carried forward (5.87) (4.83)
OPERATIONS
Due to the exodus of labour and non-viability of the plant, being very
old and inability of the Company to incur capex in view of continuous
losses being incurred for the past ten years and severe recessionary
trend prevalent in the textile industry due to global melt down, the
manufacturing operations of the Company have come to a stand still.
During the year under review the plant and machinery, land and building
of the Company at Bhilwara were disposed off to set off its liabilities
including term loans and working capital liabilities with your approval
vide postal ballot, the results of which were declared on August 25,
2009.
DIVIDEND
Your Directors are unable to recommend any Dividend on the Equity
Shares in view of the financial position of the Company.
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to Section 217(2AA) of the Companies Act, 1956 the Directors
state that:
- in the preparation of the Annual Accounts, the applicable accounting
standards have been followed;
- appropriate accounting policies have been selected and applied
consistently and they have made judgements and estimates that are
reasonable and prudent so as to give a true and fair view of the state
of affairs of the Company on 31st March, 2010 and of the profit or loss
of the Company for the financial year ended 31st March, 2010;
- 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;
- the Annual Accounts have been prepared on a going concern basis.
ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO
A Statement of Information relating to Conservation of Energy,
Technology Absorption and Foreign Exchange earnings and outgo as
required under Section 217(1) (e) of the Companies Act, 1956 read with
Companies (Disclosure of particulars in the report of Board of
Directors) Rules, 1988, is given in Annexure to the Directors Report.
DIRECTORS
Mr. B.N. Fitkariwala and Mr. Ravindra Bhandari, Director retires by
rotation and being eligible, offer themselves for reappointment.
Further, the term of Mr. R.N. Gupta as Managing Director of the Company
expired on March 31, 2010 and he ceased to be director of the Company.
The Board places on record its deep appreciation for the services
rendered by Mr. R.N. Gupta during his tenure as Managing Director of
the Company.
AUDITORS
The Companys Auditors, M/s. KSMN & Co., will hold office till the
conclusion of the forthcoming Annual General Meeting and being eligible
offer themselves for re-appointment.
The observations in the Auditors Report are dealt within the notes to
the accounts at appropriate places and are self-explanatory.
PERSONNEL
There was no employee drawing remuneration in excess of limits
prescribed under Section 217(2A) of the Companies Act, 1956 read with
the Companies (Particular of Employees) Rules, 1975.
ACKNOWLEDGEMENTS
Your Directors appreciate the valuable cooperation and continued
support extended by the Customers, Financial Institutions, Bankers,
State and Central Government. The Board also wishes to place on record
its appreciation for the dedicated services of employees at all levels
of the Company.
for and on behalf of the Board
Place : Noida Ravi Jhunjhunwala
Date : 29th April 2010 Chairman
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