Mar 31, 2015
Dear Members,
The Directors present herewith the 32nd Annual Report for the year
ended 31.03.2015.
FINANCIAL RESULTS
(In Rupees)
Particulars For the Year For the Year
Ended 31.03.2015 Ended 31.03.2014
Income from Operations - 494,190
Sale of Jewellery 102,988,835 -
Surplus on purchase/sale of Bullion 243,249 -
Commodities, etc.
Other Income 317,779 12,285
Total Income 103,549,863 506,475
Total Expenditure 101,564,115 32,116
Profit/(Loss) before tax 1,985,748 474,359
Provision for Tax 547,544 88,315
Net Profit/(Loss) 1,438,203 386,044
FINANCIAL HIGHLIGHTS
During the year under review your Company diversified into the business
of Gems & Jewellery and purchase & sale of commodities, bullion, etc.
Company has earned the total revenue of Rs. 103,549,863/- Net Profit
after Tax for the year under consideration is Rs. 1,438,203/-. Your
Company hopes to increase its presence in the business in the coming
years, which may increase the top line and also its profitability.
DIVIDEND
In view of the requirement of funds for the expansion, your Directors
do not consider it desirable to recommend any dividend in the current
year.
SHARE CAPITAL
Authorised share capital as on 31.03.2015 is Rs. 4,00,00,000 divided
into 40,00,000 Equity Shares of Rs. 10/- each and the Paid-up capital
stands at Rs. 3,45,00,000/-.
The Members in their meeting held on 29th September, 2014 had approved
/ resolved to create, issue & allot Upto 36,00,000 (Thirty Six lacs
only) Equity Shares of face value of Rs. 10/- (Rupees Ten) shares on
Preferential basis to the non-promoters to finance the business
activities of the Company.
During the year your company had raised the funds by Allotment of only
34,50,000 equity shares of Rs. 10/- each, out of the 36,00,000 shares,
on preferential basis to non promoters to finance the business
activities of the company.
DIRECTORS AND KEY MANAGERIAL PERSON
In accordance with the requirements of the Companies Act, 2013 and the
Articles of Association, Mr. Prabindra Nath Baidya, Director of the
Company, who retires by rotation and shown his willingness for
Re-appointment.
In accordance with the section 196,197 read with Schedule V of
Companies Act, 2013 Mr. Raj Kumar Gupta has been appointed as Whole
Time Director & Chief Financial Officer of the Company on 23.8.2014.
Ms. Lalita Mittal was appointed as Independent Director w.e.f.
19.07.2014.
Mr. Pankaj Aggarwal was also appointed as Independent Director w.e.f.
19.07.2014.
The Resignation of Shri Navin Nischal Prasad was accepted w.e.f.
01.08.2014.
The Resignation of Shri Dhirendra Singh Bhandari was accepted w.e.f.
12.01.2015.
Mr. Amit Gupta was appointed as Additional Director w.e.f. 29.01.2015.
And Mr. Mohit Kumar (ACS-38142) was appointed as Company Secretary cum
Compliance Officer of the Company on 29.01.2015.
MEETING OF THE BOARD
The followings meeting were held during reporting period BOARD MEETINGS
DATES:-
S. NO DATE ON WHICH S.NO DATE ON WHICH
MEETING HELD MEETING HELD
1. 11.04.2014 12. 23.08.2014
2. 23.04.2014 13. 30.08.2014
3. 30.04.2014 14. 26.09.2014
4. 26.05.2014 15. 20.10.2014
5. 30.05.2014 16. 29.10.2014
6. 30.06.2014 17. 08.12.2014
7. 01.07.2014 18. 12.01.2015
8. 11.07.2014 19. 29.01.2015
9. 15.07.2014 20. 19.03.2015
10. 19.07.2014 21. 30.03.2015
11. 01.08.2014
DIRECTORS'RESPONSIBILITY STATEMENT
Pursuant to the requirements under the provisions of the Companies Act
regarding the Directors' Responsibility Statement, it is hereby
confirmed that:
i. In the preparation of annual accounts for the financial year ended
March 31, 2015, the applicable accounting standards have been followed
along with proper explanation relating to material departures.
ii. 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 ended March 31st 2015
and of the profit or loss of the Company for that period.
iii. The Directors had 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.
iv. The Directors have prepared the annual accounts on a going concern
basis.
v. The director have laid down internal financial controls to be
followed by the Company and that such internal financial controls are
adequate and operating effectively: and
vi. The directors have devised proper systems to ensure compliance
with the provisions of all applicable laws and that such systems are
adequate and operating effectively.
PARTICULARS OF EMPLOYEES
During the year under review, company does not have any employee who
falls in this Clause.
LOANS, GUARANTEES AND INVESTMENTS
The company has not given any Loan, Guarantee, provided any Security
and made an Investment during the reporting period as specified under
section 186 of Companies Act, 2013.
PERFORMANCE EVALUATION OF BOARD MEMBERS
With a view to improving performance and effectiveness, progressive,
Board Members are now increasingly deploying board performance
evaluation tools to identify areas of improvement benchmarking
themselves against leading practices. Realizing the trends and
challenges, the regulators around the world have mandated board
evaluations.
PUBLIC DEPOSIT
During the year under review, your company has not invited any fixed
deposits from the Public and has not accepted fixed deposits and
nothing is outstanding.
STATUTORY AUDITORS
To re-appoint M/s MOHAN & MOHAN, Chartered Accountants, FRN - 002612N,
as statutory auditors of the company to hold office from conclusion of
this Annual General Meeting till the conclusion of next Annual General
Meeting.
"RESOLVED THAT pursuant to the provisions of Section 139 and other
applicable provisions if any of the Companies Act 2013 or Rules made
thereunder, M/s MOHAN & MOHAN, Chartered Accountants, FRN - 002612N be
and is hereby re-appointed as the Statutory Auditors of the company to
hold the office from conclusion of this Annual General Meeting till the
conclusion of next Annual General Meeting.
RESOLVED FURTHERTHAT Board of Directors be and is hereby authorised to
fix their remuneration and to do all such acts & deeds as may be
necessary in this regards."
AUDITORS'REPORT
Auditors Report in respect of the Financial Statements of 31.03.2015 is
self Explanatory and does not warrant any further comments/ explanation
from the Board of Directors.
SECRETARIAL AUDITOR
The Board has appointed M/s B. Bhushan & Co., Practicing Company
Secretary, to conduct Secretarial Audit for the Financial Year2014-15.
The Secretarial Audit Report for the financial year 2014-15 is annexed
with Directors'Report.
Secretarial Audit Report does not contain any qualification,
reservation or adverse remarks.
LISTING OF SHARES
Equity Shares of the Company are listed on Delhi Stock Exchange Limited
(de-recognized by SEBI w.e.f. 19.11.2014) & Calcutta Stock Exchanges
Limited. Company has complied with the requirement of Listing
Agreements during the period of review.
Listing Fee stands paid to CSE for & upto-date (2015-16).
Company has also filed an Application to get all of its Shares Listed
with Trading approvals to Bombay Stock Exchange Ltd and the necessary
required compliances & submissions & fee payments have been made.
ALTERATION OF MOA&AOA
Company added / altered/ changed its Main Objects clause in the
Memorandum of Association in order to bring the Memorandum of
Association and Articles of Association in conformity with the
provisions of the Companies Act, 2013 and to enlarge its area of
business operations. The Board of Directors have decided to add dealing
in the Gems & Jewellery, bullion & Commodities, etc., to the main
objects clause of the Memorandum of Association.
Company altered the Articles of Association and adopted New Set of
Articles of Association based on Table 'F' of the Companies Act, 2013.
Company has also received "Certificate of Registration of the Special
Resolution Confiriming Alteration of Object Clause(s)" dated
17.11.2014fromRegistrarof Companies, Shillong.
SHIFTING OF REGISTERED OFFICE
Registered office of the Company is presently situated in Guwahati,
Assam and Corporate Office is in Delhi. Most of the shareholders of the
Company, business dealings & activities of the Company take place in
Delhi. Further Company is into the business(es) of Gems & Jewellery,
Bullion & Commodities, etc., therefore it has been thought fit to shift
the registered office of the Company from the State of Assam to Delhi
for the purpose of administrative convenience, expansion,
diversification, economy, etc. For aforesaid purpose a petition has
already been filed to Regional Director, Shillog, for shifting of
Registered office.
PARTICULARS OF CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND
FOREIGN EXCHANGE EARNINGS AND OUT GO.
Information required to be given pursuant to this Clause are given
below:
A. CONSERVATION OF ENERGY
The company did not use any energy during the year under review. Your
Company is conscious about its responsibility to conserve energy, power
and other energy sources wherever possible. We emphasis towards a safe
and clean environment and continue to adhere to all regulatory
requirements and guidelines.
B. RESEARCH & DEVELOPMENT
Your Company has not imported any technology for any research and
development.
C. TECHNOLOGY ABSORPTION
Your Company has not imported any technology; however, we believe and
use information technology extensively in all spheres of our activities
to improve efficiency levels.
D. FOREIGN EXCHANGE EARNINGS AND OUTGO.
Details of Foreign Exchange, Earnings & Outgo are given as below:-
31.03.2015 (Amt.) 31.03.2014 (Amt.)
Foreign Exchange earning Nil Nil
Foreign Exchange outgoing Nil Nil
DISCLOSURES
AUDIT COMMITTEE
Composition of Audit Committee:
Sr. No. Name of the Director Category of Director
1. Mr. PankajAggarwal Chairman, Non-Executive & Independent
Director
2. Mr. Raj Kumar Gupta Executive & Non-Independent Director
3. Ms. Lalita Mittal Non- Executive & Independent Director
REMUNERATION AND NOMINATION COMMITTEE
Composition of Remuneration and Nomination Committee :
Sr. No. Name of the Director Category of Director
1. Mr. Pankaj Aggarwal Chairman, Non- Executive & Independent
Director
2. Ms. Lalita Mittal Non- Executive & Independent Director
3. Mr. Raj Kumar Gupta Executive & Non- Independent Director
SHAREHOLDERS / INVESTORS GRIEVANCE COMMITTEE
Composition of Shareholders / Investors Grievance Committee :
Sr. No. Name of the Director Category of Director
1. Mr. Raj Kumar Gupta Chairman, Executive & Non- Independent
Director
2. Ms. Lalita Mittal Non- Executive & Independent Director
3. Mr. P. N. Baidya Non- Executive & Non- Independent
Director
EXTRACT OF ANNUAL RETURN
Extract of Annual Return of the Company is annexed herewith Board
Report
APPRECIATION
Your Directors wish to place on record their deep thanks and gratitude
to;
a) The Central and State Government as well as their respective
Departments and Development Authorities connected with the business of
the Company, Bankers of the Company as well as Stock Exchanges & Other
Institutions for their co-operation and continued support.
b) The Shareholders & Others for the trust and confidence reposed and
to the Customers for their valued patronage.
c) The Board also takes this opportunity to express its sincere
appreciation for the efforts put in by the officers and employees at
all levels in achieving the results and hopes that they would continue
their sincere and dedicated endeavour towards attainment of better
working results during the current year.
By Order of the Board of Directors
For DECOROUS INVESTMENT&TRADING CO. LTD.
Place: New Delhi
Dated: 31.07.2015 Raj Kumar Gupta - DIN: 00074532
Whole Time Director & CFO
1/11682, Panchsheel Park,
New Delhi-110032
Mar 31, 2014
Dear Members,
The Directors present herewith the 31st Annual Report for the year
ended 31.03.2014.
FINANCIAL RESULTS (In Rupees)
Particulars For the Year Ended For the Year Ended
31.03.2014 31.03.2013
Income from Operations 494,190 Â
Other Income 12,285 12,275
Total Income 506,475 12,275
Total Expenditure 32,116 26,839
Profit/(Loss) before tax 474,359 (14,564)
Provision for Tax 88,315 Â
Net Profit/(Loss) 386,044 (14,564)
FINANCIAL HIGHLIGHTS
During the year under review your Company's performance was good as
compared to previous year. Company has earned the total revenue of Rs.
506475 as compared to Rs. 12275 in previous Financial Year. Net Profit
after Tax for the year under consideration is Rs. 386,044/- in
comparison to loss of Rs. 14564/- in previous Financial Year. Your
Company hopes to increase its presence in the business in the coming
years, which should increase the top line and also its profitability.
DIVIDEND
In view of the requirement of funds for the expansion on the anvil,
your Directors do not consider it desirable to recommend any dividend
in the current year.
SHARE CAPITAL
The Authorised share capital of the Company as on 31.03.2014 was Rs.
1,25,00,000 divided into 12,50,000 Equity Shares of Rs. 10/- each and
the paid-up capital of the Company as on 31.03.2014 was Rs. 20,00,000.
The Board of Directors in their meeting held on 23rd August, 2014 has
decided to create, offer, issue & allot Upto 36,00,000 (thirty six lacs
only), or lower number of shares as subscribed, Equity Shares of Rs.
10/- each, in such form & manner, in one or more lots/issues, upon such
terms & conditions, to the Non-Promoters to finance the business
activities of the Company. In order to give effect to the said decision
it has also been decided to increase the Authorised share capital of
the Company from existing by an amount of Rs. 2,75,00,000/- and the
Authorised Share Capital of the Company after considering the aforesaid
increase shall be at Rs. 4,00,00,000/-.
DIRECTORS
In accordance with the requirements of the Companies Act, 2013 and the
Company's Articles of Association Mr. Prabindra Nath Baidya, Director
of the Company, retires by rotation and shown his willingness for
Re-appointment. In accordance with the section 161 (1) of Companies
Act, 2013 Mr. Raj Kumar Gupta who was appointed as the Additional
Director of the Company by the Board of Directors in their meeting held
on 30.04.2014 and his office shall be determined at this Annual General
meeting and the Company has received the requisite Notice in writing
from a member proposing the appointment of Mr. Raj Kumar Gupta as the
Whole Time Director and Chief Financial Officer of the Company in the
ensuing Annual General Meeting.
Ms. Lalita Mittal and Mr. Pankaj Aggarwal were also appointed as
Additional Independent Directors w.e.f. 19.07.2014 in its meeting held
on 19.07.2014. Brief resume of Directors proposed to be appointed,
nature of their experience in their specific functional areas,
Companies in which they hold directorship and membership / chairmanship
of the Board Committees, Shareholdings as stipulated under Clause 49 of
the listing agreement with Delhi Stock Exchange forms part of the
Notice.
The Resignation of Shri Navin Nischal Prasad was accepted w.e.f.
01.08.2014.
DIRECTORS' RESPONSIBILITY STATEMENT
As required under section 217(2AA) of the Companies Act, 1956 regarding
the Directors' Responsibility Statement, it is hereby stated:
i. In the preparation of annual accounts for the financial year ended
March 31, 2014, the applicable accounting standards have been followed
along with proper explanation relating to material departures.
ii. 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 ended March 31st 2014
and of the profit or loss of the Company for that period.
iii. The Directors had 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.
iv. The Directors have prepared the annual accounts on a going concern
basis.
PARTICULARS OF EMPLOYEES
During the year under review, the company does not have any employee
who is covered under Section 217(2A) of the Companies Act 1956.
PUBLIC DEPOSIT
During the year under review, your company has not invited any fixed
deposits from the Public and has not accepted fixed deposits.
AUDITORS
M/s ANUJ GARG & CO., Chartered Accountants, New Delhi, M. No. 082422,
Statutory Auditors of the Company who hold office until the conclusion
of the ensuing Annual General Meeting and have not offered/consented
for re-appointment. The Board of Directors recommends to consider & to
appoint of M/s MOHAN & MOHAN, Chartered Accountants, New Delhi, having
FRN 002612N as the Statutory Auditors of the Company.
AUDITORS' REPORT
Auditors Report in respect of the Financial Statement for the current
Financial Year is self Explanatory and does not warrant any further
comments / explanation from the Board of Directors.
CORPORATE GOVERNANCE REPORT
To comply with conditions of Corporate Governance, pursuant to Clause
49 of the Listing Agreement with the Stock Exchanges, Reports on
Management Discussion and Analysis & Corporate Governance and
Certificate from the Whole Time Director & CFO are included in the
Annual Report.
FORMATION OF VARIOUS COMMITTEES
Details of various committees constituted by the Board of Directors as
per the provisions of Clause 49 of the Listing Agreement and provisions
of the Companies Act, 2013 are given in the Corporate Governance Report
annexed and forms part of the Notice.
LISTING OF SHARES
Equity Shares of the Company are listed on Delhi Stock Exchange Limited
only. Company has complied with all the requirement of listing
agreement during the period under review.
Listing Fee stands paid for & upto-date (2014-15).
APPOINTMENT OF THE REGISTRAR & SHARE TRANSFER AGENT
At present Alankit Assignments Limited is the Registrar & Share
Transfer Agent of the Company. Members may contact the RTA for
resolution of any query related to transfers of shares or for effecting
transfer of Equity shares, corporate actions, etc.
DEMATERIALISATION OF EQUITY SHARES
Directors have considered the Dematerialization of the Equity Shares of
the Company in the interest of the Members in order to provide them
safer mode of holding the equity shares and also the faster mode of
share transfer. The Directors have taken effective steps for joining
the NSDL & CDSL.
ALTERATION OF OBJECTS
The Company proposes to add to / alter/ change its Main Object clause
in the Memorandum of Association in order to bring the Memorandum of
Association and Articles of Association in conformity with the
provisions of the Companies Act, 2013 and accordingly to Delete
Sub-Clause (c) of Clause III - "Other Objects" of the Memorandum of
Association, and to enlarge its area of business operations. The Board
of Directors has decided to add the Real Estate, Agency business,
Education, etc., to the main objects clause of the Memorandum of
Association. In terms of section 14, 110 of the Companies Act 2014 read
with the rule 22 of the Companies (Management and Administration) Rules
2014, aforesaid matter require the approval of the shareholders through
postal ballot by way special resolution. The Board of Directors in its
Meeting held on 23rd Day of August, 2014 has approved the Notice of
Postal Ballot & Postal Ballot Form for the aforesaid purpose.
Shareholders are requested to send their assent / dissent in respect of
the aforesaid resolution through Postal Ballot.
A Postal Ballot Form and "self addressed prepaid postage reply
envelope" has been attached. Shareholders are requested to send their
assent / dissent in respect of the aforesaid resolution through postal
ballot before 24.09.2014.
SHIFTING OF REGISTERED OFFICE
The Registered Office of the Company is presently situated in Guwahati,
Assam and corporate office is in Delhi. Most of the business dealings &
activities of the Company take place in Delhi. Further Company also
proposes to engage into the business(es) of Real Estate, Agency,
Education, etc., therefore it has been thought fit to shift the
registered office of the Company from the State of Assam to National
Capital Territory of Delhi for the purpose of administrative
convenience expansion, diversification, economy, etc. For aforesaid
purpose a resolution has been placed in the Notice of Postal Ballot.
The aforesaid resolution is required to be passed by way of Postal
Ballot; therefore members are requested to send their Assent/ Dissent
through Postal Ballot.
A Postal Ballot Form and "self addressed prepaid postage reply
envelope" has been attached. Shareholders are requested to send their
Assent / Dissent in respect of the aforesaid resolution through postal
ballot before 24.09.2014.
PARTICULARS OF CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND
FOREIGN EXCHANGE EARNINGS AND OUT GO.
Information required to be given pursuant to this Clause are given
below :
A. CONSERVATION OF ENERGY
The company did not use any energy during the year under review.
Your Company is conscious about its responsibility to conserve energy,
power and other energy sources wherever possible. We emphasis towards a
safe and clean environment and continue to adhere to all regulatory
requirements and guidelines.
B. RESEARCH & DEVELOPMENT
Your Company has not imported any technology for any research and
development.
C. TECHNOLOGY ABSORPTION
Your Company has not imported any technology; however, we believe and
use information technology extensively in all spheres of our activities
to improve efficiency levels.
D. FOREIGN EXCHANGE EARNINGS AND OUTGO.
Details of Foreign Exchange, Earnings & Outgo are given as below:-
31.03.2014 31.03.2013
(Amt.) (Amt.)
Foreign Exchange earning Nil Nil
Foreign Exchange outgoing Nil Nil
APPRECIATION
Directors wish to place on record their deep thanks and gratitude to;
a) The Central and State Government as well as their respective
Departments and Development Authorities connected with the business of
the Company, Bankers of the Company as well as other Institutions for
their co-operation and continued support.
b) The Shareholders & Others for the trust and confidence reposed and
to the Customers for their valued patronage.
c) The Board also takes this opportunity to express its sincere
appreciation for the efforts put in by the officers and employees at
all levels in achieving the results and hopes that they would continue
their sincere and dedicated endeavour towards attainment of better
working results during the current year.
By Order of the Board of Director
For DECOROUS INVESTMENT & TRADING CO. LTD.
Place : New Delhi
Dated: 23.08.2014
Raj Kumar Gupta
DIN: 00074532
Whole Time Director & CFO
Mar 31, 2013
Dear members,
The Directors of your company have pleasure in presenting the 30th
Annual Report and the audited statement of Accounts for the year 31st
March 2013.
FINANCIAL RESULTS
The business of the company during period under consideration resulted
in Loss of Rs. 14,564/- (Previous year profit of Rs.20.465/-)
OPERATIONS
During the year under review, the company has taken various steps to
improve business activities. Despite depressed market conditions, the
performance of the Company during the year under review should be
considered satisfactory.
DEPOSITS
The company has not accepted any deposits from the public u/s 58A of
the companies Act: 1956, steps are being taken to keep Inter corporate
within the prescribed limits, if any and maintain liquid assets as
prescribed.
AUDITORS
The shareholders arc requested to appoint Auditors of the company for
the current year to hold office till the conclusion of the next Annual
General Meeting, M/s Anuj Garg & Co, Chartered Accountants, the retiring
auditors, being eligible to offer themselves for reappointment.
The observation made in the Auditors Report are self-explanatory and
therefore, do not call for any further comments under section 217 of
the companies Act, 1956.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE:
Energy Conservation :N.A.
Technology Absorption :N.A.
Foreign Exchange Earning out go :N1L.
CORPORATE GOVERNANCE:
The SEBI has introduced a code of Corporate governance for
implementation by the listed companies through amendment in the listing
agreement. As per the amendment, this code is required to be
implemented having paid-up capital of Rs. 3 crores or more.
RECTORS' RESPONSIBILITY STATEMENT :
1.) In the preparation of the Annual Accounts, the applicable accounting
standards had been followed along with proper explanation relating to
material departures'
2.) The directors had selected such accounting policies and applied
them consistently and 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 or loss of the company for the period;
3.) The directors had 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;
4.) The directors had prepared the annual accounts on going concern
basis.
SECRETARIAL COMPLIANCE AS REQUIRED US 383A
Secretarial compliance report is enclosed as required u/s 383 A of the
Companies Act, 1956.
By order of the Board of Directors
For DECOROUS INVESTMENT & RADING CO. LTD
(P.N.BAIDYA) (D. S. BHANDARI)
director director
PLACE NEW DELHI
DATED : 31-08-203
Mar 31, 2012
Dear Membrs,
The Directors of your company have pleasure in presenting the 29th
Annual Report and the audited statement of Accounts for the year 31st
March 2012.
FINANCIAL RESULTS
The business of the company during period under consideration resulted
in Profit of Rs. 20,465/- (profit of Rs. 6524/-)
OPERATIONS
During the year under review, the company has taken various steps to
improve business activities. Despite depressed market conditions, the
performance of the Company during the year under review should be
considered satisfactory.
DEPOSITS
The company has not accepted any deposits from the public u/s 58A of
the companies Act; 1956, steps are being taken to keep Inter corporate
within the prescribed limits, if any and maintain liquid assets as
prescribed.
* AUDITORS
The shareholders are requested to appoint Auditors of the company for
the current year to hold office till the conclusion of the next Annual
General Meeting, M/s Anuj Garg & Co, Chartered Accountants, the
retiring auditors, being eligible to offer themselves for
reappointment.
The observation made in the Auditors Report are self-explanatory and
therefore, do not call for any further comments under section 217 of
the companies Act, 1956.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE:
Energy Conservation :N.A.
Technology Absorption :N.A.
Foreign Exchange Earning out go :NIL.
CORPORATE GOVERNANCE :
The SEBI has introduced a code of Corporate governance for
implementation by the listed companies through amendment in the listing
agreement. As per the amendment, this code is required to be
implemented having paid-up capital of Rs. 3 crores or more.
DIRECTORS' RESPONSIBILITY STATEMENT:
* I.) In the preparation of the Annual Accounts, the applicable
accounting standards had been followed along with proper explanation
relating to material departures'
2.) The directors had selected such accounting policies and applied
them consistently and 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 or loss
of the company for the period;
3.) The directors had 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;
4.) The directors had prepared the annual accounts on going concern
basis.
SECRETARIAL COMPLIANCE AS REQUIRED US 383A
Secretarial compliance report is enclosed as required us 383A of the
Companies Act, 1956.
By order of the Board of Directors
For DECOROUS INVESTMENT & TRADING CO. LTD
P.N.BAIDYA D.S. BHANDARI
DIRECTOR DIERCTOR
PLACE : NEW DELHI
DATED : 03-09-2012