Mar 31, 2014
The Members,
The Directors have pleasure in presenting the 20th Annual Report
together with the Audited Accounts for the period ended 31st March,
2014.
Financial Results
The financial performance of the company, for the year ended March
31,2014 is summarised below:
2013-14 20112-13
Amont (Rs.) Amount (Rs.)
Profit Before Tax 52863.00 35861.75
Less: Current Tax 10073.04 6833.00
Deffered Tax 4205.52 16358.00
Profit for the year 38584.44 12670.75
Less: Appropriation 0.00 0.00
Closing Balance 38584.44 12670.75
Operations
During the year under review, there was some activity in the company at
the operational level & your directors are pleased to inform some
profits in the company. Your Company has further organized meetings of
eminent scientists of our country related with Human Genome, Plant
Genome, DNA Vaccine, Drug Discovery Services and other related
activities.
Financial hurdles and Legal actions
As reported in earlier Director's Report, the present status of various
Financial hurdles and Legal actions are as follows:
The Civil suit with National Horticulture Board(NHB) who has illegally
withhold Rs.25 lacs FDRs and interest accrued thereon, is decreed
against the Company at Civil Court, Jr.Division, Bahadurgarh (Haryana).
The Company has filed an Appeal in District Court of Jhajjar, Haryana.
The Hon'ble distt. Court has dismissed the appeal. To insert "RSA"
(Regular Second Appeal) is being filled in Punjab & Haryana High-Court.
Future Prospects
This century is adjudged as the century of bio-technology, and your
company has the right vision, focus and has the qualified manpower to
convert their plans in to the reality in the ensuing years.
Listing Agreement
The Company's securities are listed at the following 4 (four) Stock
Exchanges in India:
i) The Delhi Stock Exchange Association Limited (the Regional Stock
Exchange)
ii) Pune Stock Exchange Limited
iii) The Stock Exchange, Ahmedabad
iv) Jaipur Stock Exchange Limited
The Annual Listing fee for the Financial Year 2013-2014 is being paid
to The Delhi Stock Exchange (The Regional Stock Exchange). As there has
been no trading at all during the last several years in the Stock
Exchanges viz., Ahmedabad, Pune & Jaipur, thus as a part of cost
reduction measures the Company has already proposed to delist its
Equity Shares from all or any of these Stock Exchanges.
Share Transfer System & Dematerialization
The Company has an in-house share transfer system. The valid share
transfers complete in all respects are registered and returned within a
maximum period of one month from the date of receipt. In terms of
notification issued by SEBI, the Equity Shares of the Company are
already compulsorily under Demat trading for all investors from 31st
May, 2001 at CDSL and from 19th June, 2001 at NSDL. Shareholders who
are still holding their shares in physical mode are, therefore advised
to dematerialize their shareholding as soon as possible to avoid
inconvenience in trading. Both NSDL & CDSL have issued ISIN No. -
INE574D01010.
Directors' Responsibility Statement
Pursuant to the requirement under Section 217 (2AA) of the Company Act,
1956, with respect to Directors' Responsibility Statement, it is hereby
confirmed:
1. That in the preparation of the accounts for the Financial Year
2013-2014, the applicable Accounting Standards have been followed
alongwith proper explanation relating to material departures;
2. That 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 the Financial Year and of the
profit of the Company for that period.
3. 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
your Company and for preventing and detecting fraud and other
irregularities; and
4. That the Directors have prepared the accounts for the Financial Year
2013-2014 on a 'going concern' basis.
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 Clause 49 of the Listing Agreement forms
part of the Annual Report. The requisite Certificate from the Auditors
of the Company confirming compliance with the conditions of Corporate
Governance as stipulated under the aforesaid Clause 49, is attached to
this Report.
Management's Discussion and Analysis Report
Management's Discussion and Analysis Report for the year under review,
as stipulated under Clause 49 of the Listing Agreement with the Stock
Exchanges in India, is presented in a separate section forming part of
the Annual Report.
Dividend
In view of company's financial results the Director are unable to
recommend any dividend this year
Directors
In accordance with the Provisions of the Companies Act, 1956 (Companies
Act, 2013) and Articles of Association of the Companies, Smt. Parul
Agrawal, who retires by rotation and being eligible offers himself for
re-appointment.
Fixed Deposits
The Company has not accepted any deposit from the public under Section
58A of the Companies Act, 1956 and Rules framed thereunder.
Auditors Report
Auditors observations, as contained in the Auditors' Report are self
explanatory and do not call for any clarification.
A notice in terms of Section 190 of the companies Act, 1956 (Section
190 of companies act 2013) has been received under section 225(1) from
Members proposing the appointment of M/s. A.K. KHATTAR & ASSOCIATES,
Chartered Accountants, as Auditors of the Company. They have given
their eligibility certificate in terms of section 224(1B) of the
companies Act, 1956.
Personnel
The Statement of particulars of employees as required by Section
217(2A) of the Companies Act, 1956 is not annexed as no employee has
drawn remuneration exceeding the limits prescribed under Section
217(2A) of the Companies Act, 1956 [134(6) of the Companies Act 2013].
Conservation of Energy, Technology Absorption, Foreign Exchange
Earnings and Outgo.
The Company's present activities are either commercial in nature or
manufacturing with manual operations, therefore, do not require
Directors' comment on conservation of energy and technology absorption.
Further, there was no foreign currency transaction during the year
review.
Transfer of amounts to Investor Education and Protection Fund
Pursuant to the provisions of Section 205A(5) and 205C of the Companies
Act, 1956, there is no such amount which remained unpaid or unclaimed
to be transferred by the Company to the Investor Education and
Protection Fund.
Appreciation
It is our strong belief that caring for our business constituents has &
will go a long way in the progress of the Company and your Directors
acknowledge the overwhelming co-operation and assistance received from
its Bankers and Government Authorities.
The Directors thanks the Customers, Vendors and Investors for their
continued support to your Company's growth.
The Directors record their appreciates to all employees for their
efforts towards achieving their performance.
For and on behalf of the Board of Directors
PLACE : NEW DELHI (T.N. AGRAWAL)
DATED : 18th April, 2014 Chairman
Mar 31, 2013
The Members,
The Directors have pleasure in presenting the 19th Annual Report
together with the Audited Accounts for the period ended 31st March,
2013.
Financial Results
The financial performance of the company, for the year ended March
31,2013 is summarised below:
2012-13 2011-12
Amont (Rs.) Amount (Rs.)
Profit Before Tax 35861.75 0
Less: Current Tax 6833 0
Deffered Tax 16358 0
Profit for the year 12670.75 0
Less: Appropriation 0 0
Closing Balance 12670.75 0
Operations
During the year under review, there was some activity in the company at
the operational level & your directors are pleased to inform some
profits in the company. Your Company has further organized meetings of
eminent scientists of our country related with Human Genome, Plant
Genome, DNA Vaccine, Drug Discovery Services and other related
activities.
Financial hurdles and Legal actions
As reported in earlier Director's Report, the present status of various
Financial hurdles and Legal actions are as follows:
The Civil suit with National Horticulture Board(NHB) who has illegally
withhold Rs.25 lacs FDRs and interest accrued thereon, is decreed
against the Company at Civil Court, Jr.Division, Bahadurgarh (Haryana).
The Company has filed an Appeal in District Court of Jhajjar, Haryana.
The Hon'ble distt. Court has stayed the decree till the final order.
Future Prospects
This century is adjudged as the century of bio-technology, and your
company has the right vision, focus and has the qualified manpower to
convert their plans in to the reality in the ensuing years.
Listing Agreement
The Company's securities are listed at the following 4 (four) Stock
Exchanges in India:
i) The Delhi Stock Exchange Association Limited (the Regional Stock
Exchange)
ii) Pune Stock Exchange Limited
iii) The Stock Exchange, Ahmedabad
iv) Jaipur Stock Exchange Limited
The Annual Listing fee for the Financial Year 2012-2013 is being paid
to The Delhi Stock Exchange (The Regional Stock Exchange). As there has
been no trading at all during the last several years in the Stock
Exchanges viz., Ahmedabad, Pune & Jaipur, thus as a part of cost
reduction measures the Company has already proposed to delist its
Equity Shares from all or any of these Stock Exchanges.
Share Transfer System & Dematerialization
The Company has an in-house share transfer system. The valid share
transfers complete in all respects are registered and returned within a
maximum period of one month from the date of receipt. In terms of
notification issued by SEBI, the Equity Shares of the Company are
already compulsorily under Demat trading for all investors from 31st
May, 2001 at CDSL and from 19th June, 2001 at NSDL. Shareholders who
are still holding their shares in physical mode are, therefore advised
to dematerialize their shareholding as soon as possible to avoid
inconvenience in trading. Both NSDL & CDSL have issued ISIN No. -
INE574D01010.
Directors' Responsibility Statement
Pursuant to the requirement under Section 217 (2AA) of the Company Act,
1956, with respect to Directors' Responsibility Statement, it is hereby
confirmed:
1. That in the preparation of the accounts for the Financial Year
2012-2013, the applicable Accounting Standards have been followed
alongwith proper explanation relating to material departures;
2. That 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 the Financial Year and of the
profit of the Company for that period.
3. 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
your Company and for preventing and detecting fraud and other
irregularities; and
4. That the Directors have prepared the accounts for the Financial Year
2012-2013 on a 'going concern' basis.
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 Clause 49 of the Listing Agreement forms
part of the Annual Report. The requisite Certificate from the Auditors
of the Company confirming compliance with the conditions of Corporate
Governance as stipulated under the aforesaid Clause 49, is attached to
this Report.
Management's Discussion and Analysis Report
Management's Discussion and Analysis Report for the year under review,
as stipulated under Clause 49 of the Listing Agreement with the Stock
Exchanges in India, is presented in a separate section forming part of
the Annual Report.
Dividend
In view of company's financial results the Director are unable to
recommend any dividend this year
Directors
In accordance with the Provisions of the Companies Act, 1956 and
Articles of Association of the Companies, Mr. T.N. Agrawal, who retires
by rotation and being eligible offers himself for re-appointment.
Fixed Deposits
The Company has not accepted any deposit from the public under Section
58A of the Companies Act, 1956 and Rules framed thereunder.
Auditors Report
Auditors observations, as contained in the Auditors' Report are self
explanatory and do not call for any clarification.
A notice in terms of Section 190 of the companies Act, 1956 has been
received under section 225(1) from Members proposing the appointment of
M/s. ANDROS & COMPANY, Chartered Accountants, as Auditors of the
Company. They have given their eligibility certificate in terms of
section 224(1B) of the companies Act, 1956.
Personnel
The Statement of particulars of employees as required by Section
217(2A) of the Companies Act, 1956 is not annexed as no employee has
drawn remuneration exceeding the limits prescribed under Section
217(2A) of the Companies Act, 1956.
Conservation of Energy, Technology Absorption, Foreign Exchange
Earnings and Outgo.
The Company's present activities are either commercial in nature or
manufacturing with manual operations, therefore, do not require
Directors' comment on conservation of energy and technology absorption.
Further, there was no foreign currency transaction during the year
review.
Transfer of amounts to Investor Education and Protection Fund
Pursuant to the provisions of Section 205A(5) and 205C of the Companies
Act, 1956, there is no such amount which remained unpaid or unclaimed
to be transferred by the Company to the Investor Education and
Protection Fund.
Appreciation
It is our strong belief that caring for our business constituents has &
will go a long way in the progress of the Company and your Directors
acknowledge the overwhelming co-operation and assistance received from
its Bankers and Government Authorities.
The Directors thanks the Customers, Vendors and Investors for their
continued support to your Company's growth.
The Directors record their appreciates to all employees for their
efforts towards achieving their performance.
For and on behalf of the Board of Directors
PLACE : NEW DELHI (T.N. AGRAWAL)
DATED : 02 September, 2013
Mar 31, 2012
The Members,
The Directors have pleasure in presenting the 18th Annual Report
together with the Audited Accounts for the period ended 31st March,
2012.
Financial Position
The Company is still in the process of implementation of 100% Export
Oriented Priority Sector Tissue Culture Project and has not yet started
the commercial production. The financial position of the Company is as
under:-
(Amount in Rs. Rs)
Current yr. Previous yr.
Equity & Liabilities
Share Capital 3,05,45,000.00 3,05,45,000.00
Reserve & Surplus 126,77,000.00 126,77000.00
Secured Loan 75,00,000.00 1,00,00,000.00
Current Liabities 63,28,822.58 95,94,607.58
Total 5,70,50,822.58 6,28,16,607.58
Assets
Fixed Assets 1,19,42,930.45 1,12,74,519.45
Capital Work In Progress 2,78,51253.13 2,82,05,739.13
Investments - 78,50,000.00
Net Current Assets 1,72,56,639.00 1,54,86,349.00
Total 5,70,50,822.58 6,28,16,607.58
Operations
During the year under review, there was not much activity in the
company at the operational level. Your Company has further organised
meetings of eminent scientists of our country related with Human
Genome, Plant Genome, DNA Vaccine, Drug Discovery Services and other
related activities.
Financial hurdles and Legal actions
As reported in earlier Director's Report, the present status of various
Financial hurdles and Legal actions are as follows:
ii) The Civil suit with National Horticulture Board(NHB) who has
illegally withhold Rs.25 lacs FDRs and interest accrued thereon, is
decreed against the Company at Civil Court, Jr.Division, Bahadurgarh
(Haryana). The Company has filed an Appeal in District Court of
Jhajjar, Haryana.
Future Prospects
This century is adjudged as the century of bio-technology, and your
company has the right vision, focus and has the qualified manpower to
convert their plans in to the reality.
Listing Agreement
The Company's securities are listed at the following 4 (four) Stock
Exchanges in India:
i) The Delhi Stock Exchange Association Limited (the Regional Stock
Exchange)
ii) Pune Stock Exchange Limited
iii) The Stock Exchange, Ahmedabad
iv) Jaipur Stock Exchange Limited
The Annual Listing fee for the Financial Year 2011-2012 is being paid
to The Delhi Stock Exchange (The Regional Stock Exchange). As there has
been no trading at all during the last several years in the Stock
Exchanges viz., Ahmedabad, Pune & Jaipur, thus as a part of cost
reduction measures the Company has already proposed to delist its
Equity Shares from all or any of these Stock Exchanges.
Share Transfer System & Dematerialization
The Company has an in-house share transfer system. The valid share
transfers complete in all respects are registered and returned within a
maximum period of one month from the date of receipt. In terms of
notification issued by SEBI, the Equity Shares of the Company are
already compulsorily under Demat trading for all investors from 31st
May, 2001 at CDSL and from 19th June, 2001 at NSDL. Shareholders who
are still holding their shares in physical mode are, therefore advised
to dematerialize their shareholding as soon as possible to avoid
inconvenience in trading. Both NSDL & CDSL have issued ISIN No. -
INE574D01010.
Directors' Responsibility Statement
Pursuant to the requirement under Section 217 (2AA) of the Company Act,
1956, with respect to Directors' Responsibility Statement, it is hereby
confirmed:
1. That in the preparation of the accounts for the Financial Year
2011-2012, the applicable Accounting Standards have been followed
alongwith proper explanation relating to material departures;
2. That 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 the Financial Year and of the
profit of the Company for that period.
3. 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
your Company and for preventing and detecting fraud and other
irregularities; and
4. That the Directors have prepared the accounts for the Financial Year
2011 -2012 on a 'going concern' basis.
Corporate Governance
As there is no operation the company at present, the Corporate
Governance procedures will be implemented in the ensuing years.
Dividend
The Company has not yet started commercial production. Hence, in the
absence of profits, no dividend has been recommended for the period
under review.
Directors
In accordance with the Provisions of the Companies Act, 1956 and
Articles of Association of the Companies, Mr. T.N. Agrawal, who retires
by rotation and being eligible offers himself for re-appointment.
Fixed Deposits
The Company has not accepted any deposit from the public under Section
58A of the Companies Act, 1956 and Rules framed thereunder.
Auditors Report
Auditors observations, as contained in the Auditors' Report are self
explanatory and do not call for any clarification.
A notice in terms of Section 190 of the companies Act, 1956 has been
received under section 225(1) from Members proposing the appointment of
M/s. ANDROS & COMPANY, Chartered Accountants, as Auditors of the
Company. They have given their eligibility certificate in terms of
section 224(1B) of the companies Act, 1956.
Personnel
The Statement of particulars of employees as required by Section
217(2A) of the Companies Act, 1956 is not annexed as no employee has
drawn remuneration exceeding the limits prescribed under Section
217(2A) of the Companies Act, 1956.
Conservation of Energy, Technology Absorption, Foreign Exchange
Earnings and Outgo.
The Company's present activities are either commercial in nature or
manufacturing with manual operations, therefore, do not require
Directors' comment on conservation of energy and technology absorption.
Further, there was no foreign currency transaction during the year
review.
Appreciation
It is our strong belief that caring for our business constituents has &
will go a long way in the progress of the Company and your Directors
acknowledge the overwhelming co-operation and assistance received from
its Bankers and Government Authorities.
The Directors thanks the Customers, Vendors and Investors for their
continued support to your Company's growth.
The Directors record their appreciates to all employees for their
efforts towards achieving their performance.
For and on behalf of the Board of Directors
PLACE : NEW DELHI (T.N. AGRAWAL)
DATED : 1st September, 2012
Mar 31, 2011
The Members,
The Directors have pleasure in presenting the 17th Annual Report
together with the Audited Accounts for the period ended 31st March,
2011.
Financial Position
The Company is still in the process of implementation of 100% Export
Oriented Priority Sector Tissue Culture Project and has not yet started
the commercial production. The financial position of the Company is as
under:-
(Amount in Rs. Lacs)
Current yr. Previous yr.
Source of Funds
Share Capital 305.45 305.45
Reserve & Surplus 126.77 126.77
Secured Loan 100.00 100.00
Total 532.22 532.22
Application of Funds
Fixed Assets 112.74 67.74
Capital Work In Progress 282.06 320.01
Investments 78.50 78.50
Net Current Assets 58.92 65.97
Total 532.22 532.22
Operations
During the year under review, there was not much activity in the
company at the operational level. Your Company has further organised
meetings of eminent scientists of our country related with Human
Genome, Plant Genome, DNA Vaccine, Drug Discovery Services and other
related activities.
Financial hurdles and Legal actions
As reported in earlier Director''s Report, the present status of various
Financial hurdles and Legal actions are as follows:
ii) The Civil suit with National Horticulture Board(NHB) who has
illegally withhold Rs.25 lacs FDRs and interest accrued thereon, is
decreed against the Company at Civil Court, Jr.Division, Bahadurgarh
(Haryana). The Company has filed an Appeal in District Court of
Jhajjar, Haryana.
Future Prospects
This century is adjudged as the century of bio-technology, and your
company has the right vision, focus and has the qualified manpower to
convert their plans in to the reality.
Listing Agreement
The Company''s securities are listed at the following 4 (four) Stock
Exchanges in India:
i) The Delhi Stock Exchange Association Limited (the Regional Stock
Exchange)
ii) Pune Stock Exchange Limited
iii) The Stock Exchange, Ahmedabad
iv) Jaipur Stock Exchange Limited
The Annual Listing fee for the Financial Year 2010-2011 is being paid
to The Delhi Stock Exchange (The Regional Stock Exchange). As there has
been no trading at all during the last several years in the Stock
Exchanges viz., Ahmedabad, Pune & Jaipur, thus as a part of cost
reduction measures the Company has already proposed to delist its
Equity Shares from all or any of these Stock Exchanges.
Share Transfer System & Dematerialization
The Company has an in-house share transfer system. The valid share
transfers complete in all respects are registered and returned within a
maximum period of one month from the date of receipt. In terms of
notification issued by SEBI, the Equity Shares of the Company are
already compulsorily under Demat trading for all investors from 31st
May, 2001 at CDSL and from 19th June, 2001 at NSDL. Shareholders who
are still holding their shares in physical mode are, therefore advised
to dematerialize their shareholding as soon as possible to avoid
inconvenience in trading. Both NSDL & CDSL have issued ISIN No. -
INE574D01010.
Directors'' Responsibility Statement
Pursuant to the requirement under Section 217 (2AA) of the Company Act,
1956, with respect to Directors'' Responsibility Statement, it is hereby
confirmed:
1. That in the preparation of the accounts for the Financial Year
2010-2011, the applicable Accounting Standards have been followed
alongwith proper explanation relating to material departures;
2. That 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 the Financial Year and of the
profit of the Company for that period.
3. 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
your Company and for preventing and detecting fraud and other
irregularities; and
4. That the Directors have prepared the accounts for the Financial Year
2010-2011 on a ''going concern'' basis.
Corporate Governance
As there is no operation the company at present, the Corporate
Governance procedures will be implemented in the ensuing years.
Dividend
The Company has not yet started commercial production. Hence, in the
absence of profits, no dividend has been recommended for the period
under review.
Directors
In accordance with the Provisions of the Companies Act, 1956 and
Articles of Association of the Companies, Mr. T.N. Agrawal, who retires
by rotation and being eligible offers himself for re-appointment.
Fixed Deposits
The Company has not accepted any deposit from the public under Section
58A of the Companies Act, 1956 and Rules framed thereunder.
Auditors Report
Auditors observations, as contained in the Auditors'' Report are self
explanatory and do not call for any clarification.
A notice in terms of Section 190 of the companies Act, 1956 has been
received under section 225(1) from Members proposing the appointment of
M/s. ANDROS & COMPANY, Chartered Accountants, as Auditors of the
Company. They have given their eligibility certificate in terms of
section 224(1B) of the companies Act, 1956.
Personnel
The Statement of particulars of employees as required by Section
217(2A) of the Companies Act, 1956 is not annexed as no employee has
drawn remuneration exceeding the limits prescribed under Section
217(2A) of the Companies Act, 1956.
Conservation of Energy, Technology Absorption, Foreign Exchange
Earnings and Outgo.
The Company''s present activities are either commercial in nature or
manufacturing with manual operations, therefore, do not require
Directors'' comment on conservation of energy and technology absorption.
Further, there was no foreign currency transaction during the year
review.
Appreciation
It is our strong belief that caring for our business constituents has &
will go a long way in the progress of the Company and your Directors
acknowledge the overwhelming co-operation and assistance received from
its Bankers and Government Authorities.
The Directors thanks the Customers, Vendors and Investors for their
continued support to your Company''s growth.
The Directors record their appreciates to all employees for their
efforts towards achieving their performance.
For and on behalf of the Board of Directors
PLACE : NEW DELHI (T.N. AGRAWAL)
DATED : 2nd September, 2011 Chairman
Mar 31, 2010
The Members,
The Directors have pleasure in presenting the 16th Annual Report
together with the Audited Accounts for the period ended 31st March,
2010.
Financial Position
The Company is still in the process of implementation of 100% Export
Oriented Priority Sector Tissue Culture Project and has not yet started
the commercial production. The financial position of the Company is as
under:-
(Amount in Rs. Lacs)
Current yr. Previous yr.
Source of Funds
Share Capital 305.45 358.29
Reserve & Surplus 126.77 73.93
Secured Loan 100.00 100.00
Total 532.22 532.22
Application of Funds
Fixed Assets 67.74 69.75
Capital Work In Progress 320.01 319.52
Investments 78.50 78.50
Net Current Assets 65.97 64.82
Total 532.22 532.22
Operations
During the year under review, there was not much activity in the
company at the operational level. Your Company has further organised
meetings of eminent scientists of our country related with Human
Genome, Plant Genome, DNA Vaccine, Drug Discovery Services and other
related activities.
Financial hurdles and Legal actions
As reported in earlier Director''s Report, the present status of various
Financial hurdles and Legal actions are as follows:
i) By the time of writing this report, promoters of the company are on
their way for emicable settlements with HAIC.
ii) The Civil suit with National Horticulture Board(NHB) who has
illegally withhold Rs.25 lacs FDRs and interest accrued thereon, is
lying pending at preliminary stage at Civil Court, Jr.Division,
Bahadurgarh (Haryana).
Future Prospects
Though this century is adjudged as the century of bio-technology, and
your company has the right vision, focus and has the qualified manpower
to convert their plans in to the reality, however, due to lack of funds
which are not forthcoming from its shareholders/members, your Company
could not achieve its goals for the benefit of its members.
Therefore, in order to proceed further, your Directors have left with
no choice but forfeited the share of all of the defaulting memebrs so
that it can be reissued the same to generate the funds for the benefit
of your Company.
Listing Agreement
The Company''s securities are listed at the following 4 (four) Stock
Exchanges in India:
i) The Delhi Stock Exchange Association Limited (the Regional Stock
Exchange)
ii) Pune Stock Exchange Limited
iii) The Stock Exchange, Ahmedabad
iv) Jaipur Stock Exchange Limited
The Annual Listing fee for the Financial Year 2009-2010 is being paid
to The Delhi Stock Exchange (The Regional Stock Exchange). As there
has been no trading at all during the last several years in the Stock
Exchanges viz., Ahmedabad, Pune & Jaipur, thus as a part of cost
reduction measures the Company has already proposed to delist its
Equity Shares from all or any of these Stock Exchanges.
Share Transfer System & Dematerialization
The Company has an in-house share transfer system. The valid share
transfers complete in all respects are registered and returned within a
maximum period of one month from the date of receipt. In terms of
notification issued by SEBI, the Equity Shares of the Company are
already compulsorily under Demat trading for all investors from 31st
May, 2001 at CDSL and from 19th June, 2001 at NSDL. Shareholders who
are still holding their shares in physical mode are, therefore advised
to dematerialize their shareholding as soon as possible to avoid
inconvenience in trading. Both NSDL & CDSL have issued ISIN No. -
INE574D01010.
Directors'' Responsibility Statement
Pursuant to the requirement under Section 217 (2AA) of the Company Act,
1956, with respect to Directors'' Responsibility Statement, it is hereby
confirmed:
1. That in the preparation of the accounts for the Financial Year
2009-2010, the applicable Accounting Standards have been followed
alongwith proper explanation relating to material departures;
2. That 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 the Financial Year and of the
profit of the Company for that period.
3. 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
your Company and for preventing and detecting fraud and other
irregularities; and
4. That the Directors have prepared the accounts for the Financial Year
2009-2010 on a ''going concern'' basis.
Corporate Governance
As there is no operation the company at present, the Corporate
Governance procedures will be implemented in the ensuing years.
Dividend
The Company has not yet started commercial production. Hence, in the
absence of profits, no dividend has been recommended for the period
under review.
Directors
Pursuant to provisions of Section 256 of the Companies Act, 1956, Shri
A.P. Chamoli, Director retires by rotation and does not offer himself
for reappointment.
During the year Mrs. Parul Agrawal was appointed as Additional Director
and holds upto the date of AGM under Section 260 of the Companies Act,
1956.
Notices under Section 257 of the Companies Act, 1956 have been received
from members in respect of Mrs. Parul Agrawal''s candidature for
appointment as Director of the Company.
Fixed Deposits
The Company has not accepted any deposit from the public under Section
58A of the Companies Act, 1956 and Rules framed thereunder.
Auditors Report
Auditors observations, as contained in the Auditors'' Report are self
explanatory and do not call for any clarification.
Auditors
A notice in terms of Section 190 of the companies Act, 1956 has been
received under section 225(1) from Members proposing the appointment of
M/s. Shashi K. Garg & Co., Chartered Accountants, as Auditors of the
Company. They have given their eligibility certificate in terms of
section 224(1B) of the companies Act, 1956.
Personnel
The Statement of particulars of employees as required by Section
217(2A) of the Companies Act, 1956 is not annexed as no employee has
drawn remuneration exceeding the limits prescribed under Section
217(2A) of the Companies Act, 1956.
Conservation of Energy, Technology Absorption, Foreign Exchange
Earnings and Outgo.
The Company''s present activities are either commercial in nature or
manufacturing with manual operations, therefore, do not require
Directors'' comment on conservation of energy and technology absorption.
Further, there was no foreign currency transaction during the year
review.
Appreciation
It is our strong belief that caring for our business constituents has &
will go a long way in the progress of the Company and your Directors
acknowledge the overwhelming co-operation and assistance received from
its Bankers and Government Authorities.
The Directors thanks the Customers, Vendors and Investors for their
continued support to your Company''s growth.
The Directors record their appreciates to all employees for their
efforts towards achieving their performance.
For and on behalf of the Board of Directors
PLACE : NEW DELHI (YOGESH AGRAWAL)
DATED : 2nd September, 2010 Chairman