Mar 31, 2015
Dear members,
The Directors have pleasure in presenting their Twenty Fifth Annual
Report and Audited Accounts of your Company for the year ended 31st
March, 2015.
FINANCIAL RESULTS 31.03.2015 31.03.2014
Profit for the year ended 4,424,555.42 5,400,048.17
Less : Provision for Taxation
Current Tax 864,782.00 1,727,563.00
Deferred Tax (Assets) 208,879.65 (19,697.63)
3,350,893.77 3,692,182.80
Add : Profit B/F from previous year 32,187,208.61 28,495,025.81
Add: Mat Credit Entitlement 2,47,805.00 -
Sub Total 35,785,907.38 32,187,208.61
Less : Transferred to Statutory
Reserve 2,393,084.00 -
Balance C/f to Balance Sheet 33,392,823.38 32,187,208.61
DIVIDEND
Your Director's regret for not recommending Dividend on Equity Shares.
CONSERVATION OF ENERGY, TECHNOLOGICAL ABSORPTION, FOREIGN EXCHANGE
EARNING & OUTGO:
Details of energy conservation is not applicable to the Company, no
technology has been absorbed or imported by the Company and Foreign
Exchange Earning & Outgo is NIL.
RESEARCH & DEVELOPMENT:
The Company has not incurred any sum in respect of Research &
Development for any of its activity. CORPORATE GOVERNANCE:
The Company is committed to maintain the highest standards of corporate
governance and adhere to the corporate governance requirements set out
by SEBI. The Company has also implemented several best corporate
governance practices as prevalent globally. The report on Corporate
Governance as stipulated under the Listing Agreement forms an integral
part of this Report. The requisite certificate from the Auditors of the
Company confirming compliance with the conditions of corporate
governance is attached to the report on Corporate Governance.
EXTRACT OF ANNUAL RETURN:
Pursuant to Section 92(3) of the Companies Act, 2013 and Rule 12 (1) of
the Companies (Management and Administration) Rules, 2014, the details
forming part of the extract of the Annual Return in Form MGT-9 is
annexed herewith.
DIRECTOR AND KEY MANAGERIAL PERSONNEL:
Mr. Bimal Kumar Agarwal, director of the Company liable to retire by
rotation and being eligible has offered themselves for re-appointment.
Mr. Harshvardhan Kedia, Independent Director of the Company passed away
in February 2015 and Mr. Ashok Kumar Lodha has resigned from the post
of director with effect from 04.03.2015. The Board places on record
its deep appreciation for the valuable contribution made by him during
their tenure as Director of the Company.
The Board has approved the appointment of Mrs. Jyoti Khare, Mr. Manoj
Kumar Agarwal and Mr. Vinay Agarwal with effect from 14th Nov,2014, 7th
Jan,2015 and 04th March, 2015 respectively. The Board has considered
the recommendation of the Nomination and Remuneration Committee and
Audit Committee regarding the said appointment.
The Company is in process of appointing a CFO as required under section
203 of the Companies Act, 2013. Declaration by Independent Director:
The Company has received declarations from all the Independent
Directors of the Company confirming that they meet the criteria of
independence as prescribed both under section 49(6) of the Act and
Clause 49 of the Listing Agreement with the Stock Exchanges.
Board Evaluation:
Pursuant to the provisions of Companies Act, 2013 and Listing
Agreements, the Board has carried out an evaluation of its own
performance, the directors individually as well as the evaluation of
the working of its Audit Committee and Nomination and Remuneration
Committee. The manner in which the evaluation has been carried out is
mentioned in the Corporate Governance Report.
Remuneration Policy:
The Board has, on recommendation of the Nomination and Remuneration
Committee formulated a policy for selection and appointment of
Directors, senior managements and their remuneration. The details of
the said policy are stated in the Corporate Governance Report.
Meetings:
The details of the number of Board Meetings and meetings of various
Committees are given in the Corporate Governance Report. The
intervening gap between the meetings was within the time period
prescribed under the Companies Act, 2013.
Audit Committee:
The Audit Committee comprises Independent Directors namely Shri
Tejinder Singh (Chairman), Mr. Bimal Kumar Agarwal , and Mrs Jyoti
Khare as other members. All the recommendations made by the Audit
Committee were accepted by the Board.
More details on the Committee are given on the Corporate Governance
Report.
DIRECTORS RESPONSIBILITY STATEMENT:
In terms of Section 134 (5) of the Companies Act, 2013 with respect to
Directors' Responsibility Statement, it is hereby confirmed:
(a) That in the preparation of Annual Accounts, the applicable
Accounting Standard has been followed.
(b) 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 at the end of financial year and the
Statement of Profit and Loss for that period.
(c) That the Directors have taken proper and sufficient care for
maintenance of adequate accounting records in accordance with the
provisions of the Companies Act, 2013 for safeguarding assets of the
Company and for preventing and detecting frauds and other
irregularities.
(d) That the Directors have prepared the Annual Accounts on Going
Concern Basis.
(e) The Directors have laid down internal financial controls to be
followed by the Company and that such internal financial controls are
adequate and were operating effectively.
(f) The directors had devised proper system to ensure compliance with
the provisions of all applicable laws and that such system were
adequate and operating effectively.
DETAILS PERTAINING TO REMUNERATION AS REQUIRED UNDER SECTION 197(12) OF
THE COMPANIES ACT, 2013 READ WITH RULE 5(1) OF THE COMPANIES
(APPOINTMENT AND
REMUNERATION OF MANAGERIAL PERSONNEL) RULES, 2014.
(i) The percentage increase in remuneration of each Director, Chief
Financial Officer and Company Secretary during the financial year
2014-15, ratio of the remuneration of each Director to the median
remuneration of the employees of the Company for the financial year
2014-15 and the comparison of remuneration of each Key Managerial
Personnel (KMP) against the performance of the Company are as under:
Sl. Name of Director/ Remuneration % increase in
No. KMP & Designation of Director Remuneration
/KMP for the in the Financial
financial year year 2014-15
2014-15
(Rs. In lacs)
1. Rajendra Kumar 1.92 NIL
Agrawal
Managing Director
2. Shalini Kumari 1.43 NIL
Agarwal
Company Secretary
Sl. Name of Director/ Ratio of Comparison
No. KMP & Designation remuneration of the
of each Remuneration
Director/to of the KMP
median against the
remuneration performance of
of employees the Company
1. Rajendra Kumar 1.39 Profit before
Agrawal tax decreased
Managing Director by 18.06% and
profit after tax
decrease by 9.24%
2. Shalini Kumari Not Applicable
Agarwal
Company Secretary
(ii) The median remuneration of employees of the Company during the
financial year was Rs. 1.38 lakhs
(iii) There were 12 permanent employees on the rolls of Company as on
March 31, 2015;
(iv) There is no change in remuneration of Managing Director and
performance of the Company decrease by 18.06% to Rs. 44.24 Lacs in
2014-15 ( 54 Lacs in 2013-14).
(v) Price Earnings ratio of the Company was 0.24 as at March 31, 2015
and was 0.26as at March 31, 2014
(vi) The key parameters for the variable component of remuneration
availed by the directors are considered by the Board of Directors based
on the recommendations of the Human Resources, Nomination and
Remuneration Committee as per the Remuneration Policy for Directors,
Key Managerial Personnel and other Employees.
(vii) The ratio of the remuneration of the highest paid director to
that of the employees who are not directors but receive remuneration in
excess of the highest paid director during the year - Not Applicable
(viii) It is hereby affirmed that the remuneration paid is as per the
as per the Remuneration Policy for Directors, Key Managerial Personnel
and other Employees.
RELATED PARTY TRANSACTION:
All Related Party Transactions that were entered into during the
financial year were on arm's length basis and were in the ordinary
course of business. There are no materially significant related party
transactions made by the Company with Promoters, Key Managerial
Personnel or other designated persons which may have potential conflict
with interest of the Company at large. Your Directors draw attention of
the members to Notes to the financial statement which sets out related
party disclosures.
SUBSIDIARY COMPANY:
G Raj & Co (Property Management) Limited (Formerly known as Arrowline
Investments Limited) ceased to be subsidiary of our Company.
CODE OF CONDUCT:
The Company has a Code of Conduct which is applicable to directors and
management personnel of the Company. The Company believes in conducting
business in accordance with the highest standards of business ethics
and complying with applicable laws, rules and regulations.
The Code lays down the standard procedure of business conduct which is
expected to be followed by the directors and management personnel in
their business dealings and in particular on matters relating integrity
in the work place, in business practices and complying with applicable
laws etc.
All the directors and management personnel have submitted declaration
confirming compliance with the code.
BONUS ISSUE:
The Company has not allotted any bonus issue during the year.
ISSUE OF SHARES:
During the Financial year ended 31st March, 2015:
i) The Company has not granted any Employees Stock Option.
ii) The Company has not issued any Sweat Equity Shares.
iii) The Company has not issued any equity shares with differential
rights.
PUBLIC ISSUE:
During the year under review your Company has not issued any securities
to the public.
PUBLIC DEPOSIT:
During the Year the Company has not accepted any Deposit from the
Public, within the meaningÂof section 73 of the Companies Act, 2013.
PARTICULARS OF LOANS GIVEN, INVESTMENTS MADE, GUARANTEES GIVEN AND
SECURITIES PROVIDED
Particulars of Loans given, Investments made, Guarantees given and
Securities provided along with the purpose for which the loan or
guarantee or security is proposed to be utilized by the recipient are
provided in the financial statement.
RISK MANAGEMENT POLICY:
Pursuant to section 134(3) (n) of the Companies Act, 2013, the Board of
directors of the Company has adopted a Risk management Policy of the
Company. The Company manages, monitors and reports on the principal
risks and uncertainties that can impact its ability to achieve its
strategic objectives.
The Company has introduced several improvements to Integrated
Enterprise Risk Management, Internal Controls Management and Assurance
Frameworks and processes to drive a common integrated view of risks,
optimal risk mitigation responses and efficient management of internal
control and assurance activities. This integration is enabled by all
three being fully aligned across Group wide Risk Management, Internal
Control and Internal Audit methodologies and processes.
VIGIL MECHANISM/WHISTLE BLOWER POLICY:
The Company promotes ethical behaviour in all its business activities
and has put in place a mechanism for reporting illegal or unethical
behaviour. The Company has a Vigil mechanism and Whistle blower policy
under which the employees are free to report violations of applicable
laws and regulations and the Code of Conduct. The reportable matters
may be disclosed to the Ethics and Compliance Task Force which operates
under the supervision of the Audit Committee. Employees may also report
to the Chairman of the Audit Committee. During the year under review,
no employee was denied access to the Audit Committee.
PREVENTION OF INSIDER TRADING:
The Company has adopted a Code of Conduct for Prevention of Insider
Trading with a view to regulate trading in securities by the Directors
and designated employees of the Company. The Code requires pre-
clearance for dealing in the Company's shares and prohibits the
purchase or sale of Company shares by the Directors and the designated
employees while in possession of unpublished price sensitive
information in relation to the Company and during the period when the
Trading Window is closed.
All the Board of Directors and designated employees have confirmed
compliance with the Code.
INTERNAL FINANCIAL CONTROLS:
The Company has in place adequate internal financial controls with
reference to financial statements. During the year, such controls were
tested and no reportable material weakness in the design or operation
were observed.
During the year the company appointed M/s SKL & CO, Chartered Accounts,
Kolkata as an internal auditor. The firm is authorized to by the Audit
Committee to access the adequacy and compliance of internal control
process, statutory requirements etc. The Audit Committee met regularly
to review reports submitted by the Internal Auditor. The Audit
Committee upon discussion with internal auditor set up applicable
control measures for the Company.
STATUTORY AUDITORS :
M/S KHANDELWAL PRAJAPTI & CO, Statutory Auditors of the Company, hold
office till the conclusion of the ensuing Annual General Meeting and
are eligible for re-appointment. They have confirmed their eligibility
to the effect that their re-appointment, if made, would be within the
prescribed limits under the Act and that they are not disqualified for
re-appointment. The Notes on financial statement referred to in the
Auditors' Report are self-explanatory and do not call for any further
comments. The Auditors' Report does not contain any qualification,
reservation or adverse remark.
SECRETARIAL AUDITOR :
Pursuant to provisions of section 204 of the Companies Act, 2013 and
The Companies (Appointment and Remuneration of Managerial Personnel)
Rules, 2014 the company has appointed Mr. B.L.Patni, a whole time
Company Secretary in practice having Membership No. 1321, to undertake
the Secretarial Audit of the Company. The Secretarial Audit Report for
the financial year ended March 31, 2015 is annexed herewith to this
Report. The observations made by the Secretarial Auditor are self
explanatory. Necessary steps are being taken to comply with the
requirements.
APPRECIATION
For and on behalf of the Board, the Directors wish to place on record
their sincere appreciation for the positive co-operation received from
Banks, SEBI, Shareholders, RTA, farmers and Traders , and all the
staffs of the Company during the year.
For and on behalf of the Board
Place: Medinipore
Dated: 30th May, 2015 Bimal Kumar Agarwal
Chairman
Mar 31, 2014
Dear Members
The Directors have pleasure in presenting their Twenty Fourth Annual
Report and Audited Accounts of your Company for the year ended 31st
March, 2014.
1. FINANCIAL RESULTS 31.03.2014 31.03.2013
Profit for the year ended 5,400,048.17 30,76,142.79
Less : Provision for Taxation
Current Tax 1,727,563.00 12,90,322.00
Tax for earlier year - (2,21,150.00)
Deferred Tax (Assets) (19,697.63) (38,165.71)
Total 3,692,182.80 20,45,136.50
Add : Profit B/F from previous year 28,495,025.81 2,64,49,889,31
Balance C/F to Balance Sheet 32,187,208.61 2,84,95,025.81
2. DIVIDEND
Your Director''s regret for not recommending Dividend on Equity Shares.
3. CONSERVATION OF ENERGY, TECHNOLOGICAL ABSORPTION, FOREIGN EXCHANGE
EARNING & OUTGO:
Details of energy conservation is not applicable to the Company, no
technology has been absorbed or imported by the Company and Foreign
Exchange Earning & Outgo is NIL.
4. RESEARCH & DEVELOPMENT
The Company has not incurred any sum in respect of Research &
Development for any of its activity.
5. PUBLIC DEPOSIT
During the Year the Company has not accepted any Deposit from the
Public, within the meaning of Section 58A of the Companies Act, 1956.
6. INFORMATION U/S 217(2A) OF THE COMPANIES ACT, 1956
There were no Employees employed during the year who were in receipt of
Remuneration of Rs.60,00,000/- (Rupees Sixty Lacs Only) p.a. (if
employed throughout the year) or Rs.5,00,000/- (Rupees Five Lacs Only)
p.m. (if employed for the part of the year).
7. DIRECTORS
To appoint Directors in Place of Mr. Ashok Kumar Lodha (DIN : 0245306)
who retires by rotation and being eligible offers themselves for their
re-appointment.
8. AUDITORS
M/S K. M. Tapuriah & Co, Chartered Accountants, Statutory Auditors of
the Company retires at the conclusion of the ensuing Annual General
Meeting and the company has received a letter from one member proposing
the name of M/S KHANDELWAL PRAJAPTI & CO. Chartered Accountants,
Kolkata to be appointed as statutory auditor of the company. M/S
KHANDELWAL PRAJAPTI & CO. has already given their consent to act as the
statutory auditor if appointed and also confirmed that if they will be
appointed as statutory auditor their appointment will be within limits
specified u/s 139 & 141 of Companies Act, 2013.
9. DIRECTORS RESPONSIBILITY STATEMENT
(a) In the preparation of Annual Accounts, the applicable Accounting
Standard has been followed.
(b) 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 financial year and the Statement of Profit
and Loss for that period.
(c) The Directors have taken proper and sufficient care for maintenance
of adequate accounting records in accordance with the provisions of the
Act for safeguarding assets of the Company and for preventing and
detecting frauds and other irregularities.
(d) The Directors have prepared the Annual Accounts on Going Concern
Basis.
10. APPRECIATION
For and on behalf of the Board, the Directors wish to place on record
their sincere appreciation for the positive co-operation received from
Banks, Customers, Suppliers and all the staffs of the Company during
the year.
For and on behalf of the Board
Place : Medinipore Bimal Kumar Agarwal
Date : 30th May, 2014 Chairman
Mar 31, 2013
To The Members of Brahmanand Himghar Limited
The Directors have pleasure in presenting their Twenty third Annual
Report and Audited Accounts of your Company for the year ended 31st
March, 2013.
1. FINANCIAL RESULTS 31.03.2013 31.03.2012
Profit for the year ended 30,76,142.79 29,94,357.53
Less : Provision for Taxation
Current Tax 12,90,322.00 9,87,294.00
Tax for earlier year (2,21,150.00) 8,997.00
Deferred Tax (Assets) (38,165.71) (50,095.28)
20,45,136.50 20,48,161.81
Add : Profit B/F from previous year 2,64,49,889.31 2,44,01,727.50
Balance C/F to Balance Sheet 2,84,95,025.81 2,64,49,889.31
2. DIVIDEND
Your Director''s regret for not recommending Dividend on Equity Shares.
3. CONSERVATION OF ENERGY, TECHNOLOGICAL ABSORPTION, FOREIGN EXCHANGE
EARNING & OUTGO:
Details of energy conservation is not applicable to the Company, no
technology has been absorbed or imported by the Company and Foreign
Exchange Earning & Outgo is NIL.
4. RESEARCH & DEVELOPMENT
The Company has not incurred any sum in respect of Research &
Development for any of its activity.
5. PUBLIC DEPOSIT
During the Year the Company has not accepted any Deposit from the
Public, within the meaning of Section 58A of the Companies Act, 1956.
6. INFORMATION U/S 217(2A) OF THE COMPANIES ACT, 1956
There were no Employees employed during the year who were in receipt of
Remuneration of Rs.60,00,000/ - (Rupees Sixty Lacs Only) p.a. (if
employed throughout the year) or Rs.5,00,000/- (Rupees Five Lacs Only)
p.m. (if employed for the part of the year).
7. DIRECTORS
To appoint Directors in Place of Mr. Tejinder Singh and Mr.
Harshvardhan Kedia, who retires by rotation and being eligible offers
themselves for their re-appointment.
8. AUDITORS
M/S K. M. Tapuriah & Co., Chartered Accountants, Statutory Auditors of
the Company retires at the conclusion of the ensuing Annual General
Meeting and being eligible offers themselves for their reappointment.
9. DIRECTORS RESPONSIBILITY STATEMENT
(a) In the preparation of Annual Accounts, the applicable Accounting
Standard have been followed.
(b) 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 financial year and the profit and loss
account for that period.
(c) The Directors have taken proper and sufficient care for maintenance
of adequate accounting records in accordance with the provisions of the
Act for safeguarding assets of the Company and for preventing and
detecting frauds and other irregularities.
(d) The Directors have prepared the Annual Accounts on Going Concern
Basis.
10. APPRECIATION
For and on behalf of the Board, the Directors wish to place on record
their sincere appreciation for the positive co-operation received from
Banks, Customers, Suppliers and all the staffs of the Company during
the year.
For and on behalf of the Board
Place : Medinipore Bimal Kumar Agarwal
Date : 28th May, 2013 Chairman
Mar 31, 2011
To The Members of Brahmanand Himghar Limited
The Directors have pleasure in presenting their Twenty First
Annual Report and Audited Accounts of your Company for the year
ended 31st March, 2011.
1.FINANCIAL RESULTS 31.03.2011 31.03.2010
Profit for the year
ended 12,73,729.98 12,01,006.98
Less : Provision for
Taxation
Current Tax 4,76,830.00 4,89,743.00
Tax for earlier year 32,823.00 -
Deferred Tax(Assets) (64,968.42) 28,685.52
8,29,045.31 6,82,578.46
Add: Profit B/F from
previous year 2,35,72,682.19 2,28,90,103.73
Balance C/F to Balance
Sheet 2,44,01,727.50 2,35,72,682.19
2. DIVIDEND
Your Director's regret for not recommending Dividend on Equity Shares.
3. CONSERVATION OF ENERGY, TECHNOLOGICAL ABSORPTION, FOREIGN EXCHANGE
EARNING & OUTGO:
Details of energy conservation is not applicable to the Company, no
technology has been absorbed or imported by the Company and Foreign
Exchange Earning & Outgo is NIL.
4. RESEARCH & DEVELOPMENT
The Company has not incurred any sum in respect of Research &
Development for any of its activity.
5. PUBLIC DEPOSIT
During the Year the Company has not accepted any Deposit from the
Public, within the meaning of Section 58A of the Companies Act, 1956.
6. INFORMATION U/S 217(2A) OF THE COMPANIES ACT, 1956
There were no Employees employed during the year who were in receipt of
Remuneration of Rs.60,00,000/- (Rupees Sixty Lacs Only) p.a. (if
employed throughout the year) or Rs.5,00,000/- (Rupees Five Lacs Only)
p.m. (if employed for the part of the year).
7. DIRECTORS
Mr. Sushil Kumar Khowala and Mr. Bimal Kumar Agrawal, directors of the
Company are liable to retire by rotation in the forthcoming Annual
General Meeting and being eligible offers themselves for reappointment.
8. AUDITORS
M/S K.M.Tapuriah & Co, (formerly known as S.K.L. & Co.) Chartered
Accountants, Statutory Auditors of the Company retires at the
conclusion of the ensuing Annual General Meeting and being eligible
offers themselves for their reappointment.
9. DIRECTORS RESPONSIBILITY STATEMENT (a) In the preparation of Annual
Accounts, the applicable Accounting Standard have been followed.
(b) The Directors have selected such Accounting Policies and applied
them consistently and 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 at the end of financial year and the profit and loss
account for that period.
(c) The Directors have taken proper and sufficient care for
maintainance of adequate accounting records in accordance with the
provisions of the Act for safeguarding assets of the Company and for
preventing and detecting frauds and other irregularities.
(d) The Directors have prepared the Annual Accounts on Going Concern
Basis.
10. APPRECIATION
For and on behalf of the Board, the Directors wish to place on record
their sincere appreciation for the positive co-operation received from
Banks, Customers, Suppliers and all the staffs of the Company during
the year.
For and on behalf of the Board
Place : Medinipore Sushil Kumar Khowala
Date : 30th May, 2011 Chairman
Mar 31, 2010
The Directors have pleasure in presenting their Twentieth Annual
Report and Audited Accounts of your Company for the year ended 31st
March, 2010.
1. FINANCIAL RESULTS 31.03.2010 31.03.2009
Profit for the year ended 12,01,006.98 12,72,308.27
Less : Provision for Taxation
Current Tax 4,89,743.00 5,22,475.00
Fringe Benefit Tax - 22,130.00
Deferred Tax (Assets) 28,685.52 45,331.42
6,82,578.46 6,82,371.85
Add : Profit B/F from
previous year 2,28,90,103.73 2,22,07,731.87
Balance C/F to Balance Sheet 2,35,72,682.19 2,28,90,103.72
2. DIVIDEND
Your Directors regret for not recommending Dividend on Equity Shares.
3. CONSERVATION OF ENERGY. TECHNOLOGICAL ABSORPTION, FOREIGN EXCHANGE
EARNING & OUTGO;
Details of energy conservation is not applicable to the Company, no
technology has been absorbed or imported by the Company and Foreign
Exchange Earning & Outgo is NIL.
4. RESEARCH & DEVELOPMENT
The Company has not incurred any sum in respect of Research &
Development for any of its activity.
5. PUBLIC DEPOSIT
During the Year the Company has not accepted any Deposit from the
Public, within the meaning of Section 58A of the Companies Act, 1956.
6. INFORMATION U/S 217(2A) OF THE COMPANIES ACT, 1956
There were no Employees employed during the year who were in receipt of
Remuneration of Rs. 24,00,000/- (Rupees Twenty Four Lacs Only) p.a. (if
employed throughout the year) or Rs. 2,00,000/- (Rupees Two Lacs Only)
p.m. (if employed for the part of the year).
7. DIRECTORS
Mr. Inder Raj Agrawal, directors of the Company are liable to retire by
rotation in the forthcoming Annual General Meeting and being eligible
offers himself for reappointment.
8. AUDITORS
M/S K.M.Tapuriah & Co, (formerly known as S.K.L. & Co.) Chartered
Accountants, Statutory Auditors of the Company retires at the
conclusion of the ensuing Annual General Meeting and being eligible
offers themselves for their reappointment.
9. DIRECTORS RESPONSIBILITY STATEMENT
(a) In the preparation of Annual Accounts, the applicable Accounting
Standard have been followed.
(b) The Directors have selected such Accounting Policies and applied
them consistently and 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 at the end of financial year and the profit and loss
account for that period.
(c) The Directors have taken proper and sufficient care for
maintainance of adequate accounting records in accordance with the
provisions of the Act for safeguarding assets of the Company and for
preventing and detecting frauds and other irregularities.
(d) The Directors have prepared the Annual Accounts on Going Concern
Basis.
10. APPRECIATION
For and on behalf of the Board, the Directors wish to place on record
their sincere appreciation for the positive co-operation received from
Banks, Customers, Suppliers and all the staffs of the Company during
the year.
Place : Medinipore For and on behalf of the Board
Dated : 27th May,2010
Sushil Kumar Khowala
Chairman
Disclaimer: This is 3rd Party content/feed, viewers are requested to use their discretion and conduct proper diligence before investing, GoodReturns does not take any liability on the genuineness and correctness of the information in this article