Mar 31, 2014
Dear Members,
The Directors are pleased to place before you the 80th Annual Report
together with the audited accounts for the financial year ended on 31st
March 2014.
OPERATIONS:
Your Directors have to report that the Company has not been able to
take up any activity during the year under report and thus the expenses
were kept at the minimum level which were highly essential for the
Company. The operations of the Company have resulted in to a loss of Rs
2,34,158/- as against loss of Rs 3,05,208/- after provision for
depreciation during last year which has been added to the accumulated
loss of Rs 39.92,672/- resulting in to accumulated loss or Rs
42,26,830/-.
DIVIDEND:
In view of the loss, your directors have not recommended any dividend
during the year under report.
FIXED DEPOSIT:
The Company has not accepted any Fixed Deposit and there are no Fixed
Deposit outstanding or unclaimed.
DIRECTORS:
Mrs. Pramila V. Wadhwa, retire by rotation and being eligible offer
herself for re-appointment
PARTICULARS OF EMPLOYEES :
Not a single employee was in receipt of remuneration of the limit
prescribed u/s. 217 (2A) of the Companies Act, 1956 read with
Companies (Particulars of Employees) Rules, 1975.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION
FOREIGN EXCHANGE EARNING AND OUTGO ETC.:
Particulars relating to the Conservation of Energy, Technology
Absorption is not applicable to the Company. The Company does not have
any Foreign exchange earning nor there is any Foreign Exchange outgo.
DIRECTORS RESPONSIBILITY STATEMENT AS PER SECTION 217 (2AA) OF THE
COMPANIES ACT, 1956:
Pursuant to the requirement under Section 217 (2AA) of the Companies
Act, 1956 with respect to directors'' responsibility statement, it is
hereby confirmed:
(i) That in the preparation of the accounts for the financial year
ended 31st March 2014 the applicable accounting standards have been
followed :
(ii) That the directors have selected such accounting policies and
applied them consistently and made judgement and estimates that were
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
loss of the Company for the year under review :
(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, 1956 for safeguarding the assets of
the Company and for preventing and detecting the fraud and other
irregularities:
(iv) That the Directors have prepared the accounts for the financial
year ended 31st March 2014 on a ''going concern'' basis.
AUDITORS
M/s. Narendra Anil & Associates, Chartered Accountants, retire as
Auditors of the Company and being eligible offer themselves for
re-appointment. The Auditors have confirmed their willingness for
re-appointment as Auditors of the Company and have submitted their
written consent and necessary Certificate in compliance of Section 139
of the Companies Act 2013 read with the Companies (Audit & Auditors)
Rules 2014.
FOR AND ON BEHALF OF THE BOARD
MANOJ V. WADHWA
[CHAIRMAN]
Mar 31, 2013
The Directors are pleased to place before you the 79th Annual Report
together with the audited accounts for the financial year ended on 31st
March 2013.
OPERATIONS:
Your Directors have to report that the Company has not been able to
take up any activity during the year under report and thus the expenses
were kept at the minimum level which were highly essential for the
Company. The operations of the Company have resulted in to a loss of Rs
3,05,208/- after providing depreciation as against loss of Rs
1,47,413/- after provision for depreciation during last year. A sum of
Rs. 730/- being the provision for tax has been written back resulting
in to a loss of Rs 3,04,478/- which has been added to the accumulated
loss of Rs 36,88,194/- resulting in to a total accumulated loss of Rs
39,92,672/- as on 31.03.2013.
Your directors are assessing and analyzing the various options for the
business of the Company, which would certainly require finance. Thus
the options have to be worked out properly which could be implemented.
However, the Company has to run the show and make required expenses.
DIVIDEND:
In view of the loss, your directors have not recommended any dividend
during the year under report.
DIRECTORS:
Mr. Deepak V. Wadhwa, retire by rotation and being eligible offer
himself for re-appointment.
AUDITORS:
M/s. Narendra Anil & Associates, Chartered Accountants, retire as
Auditors of the Company and being eligible offer themselves for
re-appointment
PERSONNEL:
Not a single employee was in receipt of remuneration of the limit
prescribed u/s. 217 (2A) of the Companies Act, 1956 read with
Companies (Particulars of Employees) Rules, 1975.
PARTICULARS REGARDING CONSERVATION OP ENERGY, ETC.:
Particulars relating to the Conservation of Energy, Technology
Absorption is not applicable to the Company. The Company does not have
any Foreign exchange earning nor there is any Foreign Exchange outgo.
DIRECTORS RESPONSIBILITY STATEMENT AS PER SECTION 217 (2AA) OF THE
COMPANIES ACT, 19S6:
Pursuant to the requirement under Section 217 (2AA) of the Companies
Act, 1956 with respect to directors'' responsibility statement, it is
hereby confirmed:
(i) That in the preparation of the accounts for the financial year
ended 31st March 2013 the applicable accounting standards have been
followed :
(ii) That the directors have selected such accounting policies and
applied them consistently and made judgment and estimates that were
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
loss of the Company for the year under review :
(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, 1956 for safeguarding the assets of
the Company and for preventing and detecting the fraud and other
irregularities :
(iv) That the Directors have prepared the accounts for the financial
year ended 31st March 2013 on a ''going concern'' basis.
FOR AND ON BEHALF OF THE BOARD
MANOJ V. WADHWA
[CHAIRMAN]
PLACE : MUMBAI
DATED : 22.08.2013
Mar 31, 2012
The Directors are pleased to place before you the 78th Annual Report
together with the audited accounts for the financial year ended on 31st
March 2012.
OPERATIONS:
Your Directors have to report that the Company has not been able to
take up any activity during the year under report and thus the expenses
were kept at the minimum ievel which were highly essential for the
Company. The operations of the Company have resulted in to a loss of Rs
1,47,413/- after providing depreciation as against loss of Rs 52,664/-
after provision for depreciation during last year which has been added
to the accumulated loss of Rs 35,40,781/- as on 31st March 2011
resulting in to a total accumulated loss of Rs 36,88,194/- as on
31.03.2012 .
Your directors are assessing and analyzing the various options for the
business of the Company, which would certainly require finance. Thus
the options have to be worked out properly which could be implemented.
However, the Company has to run the show and make required expenses.
DIVIDEND :
In view of the loss, your directors have not recommended any dividend
during the year under report.
DIRECTORS :
Mr. Manoj V. Wadhwa, retire by rotation and being eligible offer
himself for re-appointment.
AUDITORS :
M/s. Anil Jaykant & Co., have informed the Company that they do not
wish to seek re-appointment as Auditors of the Company. A special
notice has been received by the Company under Section 225 (1) of the
Companies Act 1956, from a member for appointing M/s. Narendra Anil &
Associates, Chartered Accountants, as the statutory Auditors of the
Company on remuneration as may be fixed by Board of Directors.
PERSONNEL:
Not a single employee was in receipt of remuneration of the limit
prescribed u/s. 217 (2A) of the Companies Act, 1956 read with
Companies ( Particulars of Employees) Rules, 1975.
PARTICULARS REGARDING CONSERVATION OF ENERGY, ETC. :
Particulars relating to the Conservation of Energy, Technology
Absorption is not applicable to the Company. The Company does not have
any Foreign exchange earning nor there is any Foreign Exchange outgo.
DIRECTORS RESPONSIBILITY STATEMENT AS PER SECTION 217 (2AA) OF THE
COMPANIES ACT, 19S6:
Pursuant to the requirement under Section 217 (2AA) of the Companies
Act, 1956 with respect to directors' responsibility statement, it is
hereby confirmed:
(i) That in the preparation of the accounts for the financial year
ended 31st March 2012 the applicable accounting standards have been
followed :
(ii) That the directors have selected such accounting policies and
applied them consistently and made judgement and estimates that were
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
loss of the Company for the year under review :
(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, 1956 for safeguarding the assets of
the Company and for preventing and detecting the fraud and other
irregularities :
(iv) That the Directors have prepared the accounts for the financial
year ended 31st March 2012 on a 'going concern' basis.
AUDITORS REPORT:
The Auditors observations except item No. 4 (f) relating to preference
shares are self-explanatory and do not require any comments or
clarifications. As regards the observation of the auditors regarding
the provision of Section 80A of the Act, the directors explain that due
to non-availability of finance neither the preference shares could be
redeemed nor the dividend has been paid.
FOR AND ON BEHALF OF THE BOARD
MANOJ V. WADHWA
[CHAIRMAN]
PLACE : MUMBAI
DATED : 30th August 2012
Mar 31, 2011
Dear Members,
The Directors are pleased to place before you the 77th Annual Report
together with the audited accounts for the financial year ended on 31st
March 2011.
OPERATIONS:
Your Directors have to report that the Company has not been able to
take up any activity during the year under report and thus the expenses
were kept at the minimum level which were highly essential for the
Company. The operations of the Company have resulted in to a loss of Rs.
52,664/- after providing depreciation as against loss of Rs. 24,685/-
after provision for depreciation and Income tax during last year. The
accumulated loss of Rs. 34,88,117/- has been brought forward and added
to the above loss of Rs. 52,664/- resulting in to accumulated loss of Rs.
35,40,781/- which has been carried to Balance Sheet.
Your directors are assessing and analyzing the various options for the
business of the Company, which would certainly require finance. Thus
the options have to be worked out properly which could be implemented.
However the Company has to run the show and make required expenses.
DIVIDEND:
In view of the loss, your directors have not recommended any dividend
during the year under report.
DIRECTORS:
Smt. Pramila V. Wadhwa, retire by rotation and being eligible offer
herself for re-appointment.
AUDITORS :
Messrs Anil Jaykant & Co., Chartered Accountants, retire as Auditors of
the Company and being eligible offer themselves for re-appointment.
PERSONNEL :
Not a single employee was in 'receipt of remuneration of the limit
prescribed u/s. 217 (2A) of the Companies Act, 1956 read with
Companies ( Particulars of Employees) Rules, 1975.
PARTICULARS REGARDING CONSERVATION OF ENERGY, ETC. :
Particulars relating to the Conservation of Energy, Technology
Absorption is not applicable to the Company. The Company does not have
any Foreign exchange earning nor there is any Foreign Exchange outgo.
DIRECTORS RESPONSIBILITY STATEMENT AS PER SECTION 217 (2AA) OF THE
COMPANIES ACT, 1956 :
Pursuant to the requirement under Section 217 (2AA) of the Companies
Act, 1956 with respect to directors' responsibility statement, it is
hereby confirmed:
(i) That in the preparation of the accounts for the financial year
ended 31st March 2011 the applicable accounting standards have been
followed :
(ii) That the directors have selected such accounting policies and
applied them consistently and made judgement and estimates that were
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
loss of the Company for the year under review :
(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, 1956 for safeguarding the assets of
the Company and for preventing and detecting the fraud and other
irregularities :
(iv) That the Directors have prepared the accounts for the financial
year ended 31st March 2011 on a 'going concern' basis.
AUDITORS REPORT:
The Auditors observations except item No. 4 (f) relating to preference
shares are self-explanatory and do not require any comments or
clarifications. As regards the observation of the auditors regarding
the provision of Section 80A of the Act, the directors explain that due
to non-availability of finance neither the preference shares could be
redeemed nor the dividend has been paid.
FOR AND ON BEHALF OF THE BOARD
MANOJ V. WADHWA
[CHAIRMAN]
PLACE : MUMBAI
DATED : 2nd September 2011
Mar 31, 2010
The Directors are pleased to place before you the 76th Annual Report
together with the audited accounts for the financial year ended on 31st
March 2010.
OPERATIONS:
Your Directors have to report that the balance stock of one flat along
with Garage has been disposed off during the year under report.
However, the Company has not been able to take up any other activity so
far and thus the expenditure has been kept at the minimum level which
was highly essential for the Company. The operations of the Company
have resulted in to a loss of Rs 24,685/- after providing for
depreciation and income tax as against loss of Rs 2,34,639/- during
last year. A sum of Rs 1,38,399/- has been transferred from
revaluation reserve on sale of flat against which the above loss of Rs
24,685/- has been set off resulting in to a profit of Rs 1,13,714/-
which has been set off against brought forward loss of Rs 36,01,831/-
and thus balance loss of Rs 34,88,117/- has been carried to Balance
Sheet.
Your directors are assessing and analyzing the various options for the
business of the Company, which would certainly require finance. Thus
the options have to be worked out properly which could be implemented.
Thus the Company has to run the show and make required expenses.
DIVIDEND:
In view of the accumulated loss, your directors have not recommended
any dividend during the year under report.
DIRECTORS :
Mr Deepak V. Wadhwa retire by rotation and being eligible offer himself
for re-appointment.
AUDITORS :
Messrs Anil Jaykant & Co., Chartered Accountants, retire as Auditors of
the Company and being eligible offer themselves.for re-appointment.
PERSONNEL:
Not a single employee was in receipt of remuneration of the limit
prescribed u/s. 217 (2A) of the Companies Act, 1956 read with
Companies ( Particulars of Employees) Rules, 1975.
PARTICULARS REGARDING CONSERVATION OF ENERGY, ETC. :
Particulars relating to the Conservation of Energy, Technology
Absorption is not applicable to the Company. The Company does not have
any Foreign exchange earnings nor there is any Foreign Exchange outgo.
DIRECTORS RESPONSIBILITY STATEMENT AS PER SECTION 217 (2AA) OF THE
COMPANIES ACT, 1956 :
Pursuant to the requirement under Section 217 (2AA) of the Companies
Act, 1956 with respect to directors responsibility statement, it is
hereby confirmed:
(i) That in the preparation of the accounts for the financial year
ended 31st March 2010 the applicable accounting standards have been
followed :
(ii) That the directors have selected such accounting policies and
applied them consistently and made judgement and estimates that were
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
loss of the Company for the year under review :
(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, 1956 for safeguarding the assets of
the Company and for preventing and detecting the fraud and other
irregularities :
(iv) That the Directors have prepared the accounts for the financial
year ended 31st March 2010 on a going concern basis.
AUDITORS REPORT:
The Auditors observations except item No. 4 (0 relating to preference
shares are self-explanatory and do not require any comments or
clarifications. As regards the observation of the auditors regarding
the provision of Section 80 of the Act, the directors explain that due
to non-availability of finance neither the preference shares could be
redeemed nor the dividend has been paid.
FOR AND ON BEHALF OF THE BOARD
MANOJ V. WADHWA
CHAIRMAN
PLACE : MUMBAI
DATED : 2ND SEPTEMBER 2010