Mar 31, 2014
Dear Shareholders,
The directors have pleasure in presenting their Annual Report together
with the Audited Statement of Accounts for the financial year ended on
31st March 2014.
FINANCIAL RESULTS
(In Rs.)
Particulars 2013-2014 2012-13
Income 729501.60 218429.13
Less: Total Expenditure 528748.72 166069.00
Net Profit/(Loss) before Tax &
Depreciation (PBDT) 200752.88 52360.13
Less: Depreciation - -
Net Profit/(Loss) after
Depreciation before Tax (PBT) 200752.88 52360.13
Less: Provision for Income Tax-Current 62032.64 17440.00
Profit after Tax 138720.24 34920.13
Statuary Reserves 35446.41 7702.37
MATERIAL CHANGES AFTER THE CLOSE OF FINANCIAL YEAR
Save as mentioned elsewhere in this Report, no material changes and
commitments affecting the financial position of the Company has
occurred between the end of the financial year of the Company-31st
March, 2014.
DIVIDEND
The Board of Directors of your Company has decided to retain and plough
back the profits into the business of the Company, thus no dividend is
being recommended for this year.
PUBLIC DEPOSITS
During the year under review, the Company has not accepted any deposit
under Section 58A of the Companies Act, 1956, read with Companies
(Acceptance of Deposits) Rules, 1975.
CORPORATE GOVERNANCE
The Company believes that Corporate Governance report is a key element
in improving efficiency, transparency, accountability and growth as
well enhancing investor confidence. As per Clause 49 of the Listing
Agreement with the Stock Exchange, a separate section on Corporate
Governance forms part of the Annual Report.
A Certificate from the Statutory Auditors of the Company confirming
compliance with the condition of Corporate Governance as stipulated
under clause 49 of the Listing Agreement is given as Annexure to the
Corporate Governance Report.
In accordance with the provisions of the Companies Act, 2013, Mr.
Sidharth Goyal will retire by rotation at the ensuing Annual General
Meeting and being eligible, offer himself for re-appointment.
The Board of Directors has appointed Mr. Sidharth Goyal as Managing
Director of the Company w.e.f. 2nd September, 2014 for a term of five
years on the remuneration as recommended by the Nomination and
Remuneration Committee and thereafter approved by the Board in their
meeting held on 2nd September, 2014. The Board has also appointed Mr.
Dilip Jain, Mr. Ashok Kumar as Independent Directors of the Company for
a term of consecutive five years ending up to 31st March, 2019. In
accordance with the provisions of section 149 of the Companies Act,
2013 all the independent directors will be non rotational. Accordingly,
the proposal for the same is placed in the ensuing annual general
meeting of the Company.
Mr. Sidharth Goyal is liable to retire by rotation and being eligible
offer himself for re-appointment. Directors recommend their
re-appointment.
Further in the same meeting, the Board in its meeting held on appointed
Ms. Ananya Pandey as an Additional Director of the Company and in
respect of whom the Company has received a notice in writing from a
member proposing his candidature for the office of Director, be and is
hereby appointed as Director of the Company, liable to retire by
rotation. The Board of Directors recommend her re-appointment
SHARE CAPITAL
During the Financial Year ended March 31, 2014, the Authorised Share
Capital of the Company has also been increased to Rs. 5,00,00,000 (Rs.
Five Crore only) by creating 45,00,000 (Forty Five Lacs) Equity Shares
of Rs. 10/- (Rs. Ten Only) each aggregating Rs. 4,50,00,000/- (Rs.
Four Crore Fifty Lacs Only) which shall be ranking pari passu with the
existing Equity Shares.
In compliance with the provisions of the Companies Act, Listing
Agreement and SEBI (ICDR) Regulations, 2009, the Board of Director''s in
their meeting held on 15th May, 2014 allotted 28,80,000 fully paid
Equity Shares of Rs. 10/- (Rs. Ten Only) each to the various strategic
investors.
COMMITTEES OF THE BOARD OF DIRECTORS
The Board of Directors of the Company has constituted the following
committees in terms of the provisions of the Companies Act and clause
49 of the listing agreement:
i. Audit Committee
Name of the Director Category
Mr. Dilip Jain Chairman
(Non Executive Independent)
Mr. Ashok Kumar Member
(Non Executive Independent)
Mr. Sidharth Goyal Member
(Promoter & Executive)
II. Nomination and Remuneration Committee
Name of the Director Category
Mr. Ashok Kumar Chairman
(Non Executive Independent)
Mr. Dilip Jain Member
(Non Executive Independent)
Ms. Ananya Pandey Member
(Non Executive Non Independent Director)
III. Stakeholders Relationship Committee
Name of the Director Category
Mr. Dilip Jain Chairman
(Non Executive Independent)
Mr. Ashok Kumar Member
(Non Executive Independent)
Mr. Sidharth Goyal Member
(Promoter & Executive)
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE
EARNINGS AND OUTGO
The Companies (Disclosure of Particulars in the Report of Board of
Directors) Rules, 1988 as required under Section 217(1) (e) are not
applicable to our industry; hence no statement for disclosure has been
made. There was no foreign exchange earnings and outgo during the year
under review.
PARTICULARS OF EMPLOYEES
During the financial year under review, none of the Company''s employees
was in receipt of remuneration as prescribed under Section 217(2) of
the Companies Act, 1956 (Particulars of Employees) Rules, 1975, and
hence no particular are required to be disclosed in this Report.
DIRECTORS'' RESPONSIBILITY STATEMENT
In terms of provisions of Section 217 (2AA) of the Companies Act, 1956,
and to the best of their knowledge and belief and according to the
information and explanation obtained by them and save as mentioned
elsewhere in this Report, the attached Annual Accounts and the
Auditors'' Report thereon, your Directors confirm that:
a) That in the preparation of the Annual Accounts for the financial
year ended on 31st March, 2014, the applicable Accounting Standards had
been followed along with proper explanation relating to the material
departures.
b) That the Directors had 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.
c) That 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 or other irregularities.
d) That the Directors had prepared the Annual Accounts on a going
concern basis.
AUDITORS'' REPORT
The Observations of the Statutory Auditors in their report read
together with the Notes on Annual Accounts are self explanatory and
therefore do not call for any further explanation.
STATUTORY AUDITORS
M/s. K R A & Co., Chartered Accountants, Auditors of the Company are
due to retire at the forthcoming Annual General Meeting and being
eligible offer themselves for re-appointment. Members are requested to
consider re-appointing them and to authorize the Board of Directors to
fix their remuneratin.teh Auditors under provisions of Companies Act
1956, have furnished a certificate of eligibility for re-appointment.
LISTING OF SHARES
The Equity Shares of the Company is listed on the Delhi Stock Exchange.
These shares were not traded during the year under review as the
trading of Shares was not taking place at the exchange. The annual
listing fee for the financial year 2014-15 has been duly paid to the
Exchange.
ACKNOWLEDGEMENT
Your Directors would like to express their sincere appreciation for the
co-operation and assistance received from the Bankers, Regulatory
Bodies, stakeholders including Financial Institutions, Distributors,
various other Government Departments and its valued business associates
who have extended their valuable sustained support and encouragement
during the year.
Your Directors take this opportunity to recognize and place on record
their gratitude and appreciation for the commitment displayed by all
executives, officers and staff at all levels of the Company. We look
forward to your continued support in the future.
By Order of the Board
For Helpage Finlease Limited
Place: New Delhi Siddharth Goyal
Date: 4th September, 2014 Chairman
Mar 31, 2013
Dear Members,
The directors have pleasure in presenting their 30th Annual Report
together with the Audited Statement of Accounts for the year ended on
31st March 2013.
1. FINANCIAL RESULTS
(In
Rs.)
Particulars 2012-2013 2011-12
Income 218,429.13 188492.42
Less: Total Expenditure 166069.00 185150.73
Net Profit/(Loss) before Tax 52360.13 3341.69
& Depreciation (PBDT)
Less: Depreciation - -
Net Profit/(Loss) after 52360.13 3341.69
Depreciation before Tax (PBT)
Less: Provision for Income Tax-Current 17440.00 1704.34
Profit after Tax 34920.13 1637.35
2. DIVIDEND
Your directors do not recommend any dividend for this year..
3. PUBLIC DEPOSITS
During the year under review, the Company has not accepted any deposit
under Section 58A of the Companies Act, 1956, read with Companies
(Acceptance of Deposits) Rules, 1975.
4. DIRECTORS
In terms of the provisions of the Companies Act, 1956, and Articles of
Association of the Company, Mr. Sidharth Goyal, Director of the Company
retires by rotation and being eligible, has offered himself for
re-appointment.
Pursuant to the Provisions of Section 260 of the Companies Act, 1956
and Articles of Association of the Company, Mr Dilip Jain & Mr. Ashok
Kumar were appointed as Additional Directors of the Company w.e.f. 30th
April 2013 & 30th August 2013 respectively and shall hold office until
the date of the ensuing Annual General Meeting.
Your Company has received a notice in writing proposing his candidature
along with the requisite deposit pursuant to the provisions of Section
257 of the Companies Act, 1956. The brief resume of the Directors
proposed to be appointed/re-appointed and other details as
stipulated under Clause 49 of the Listing Agreement with the Stock
Exchanges, are provided in the Notice for convening the Annual General
Meeting.
5. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE
EARNINGS AND OUTGO
The Companies (Disclosure of Particulars in the Report of Board of
Directors) Rules, 1988 as required under Section 217(1) (e) are not
applicable to our industry; hence no statement for disclosure has been
made. There was no foreign exchange earnings and outgo during the year
under review.
6. PARTICULARS OF EMPLOYEES
During the financial year under review, none of the Company''s employees
was in receipt of remuneration as prescribed under Section 217(2) of
the Companies Act, 1956 (Particulars of Employees) Rules, 1975, and
hence no particular are required to be disclosed in this Report.
7. DIRECTORS'' RESPONSIBILITY STATEMENT
In terms of provisions of Section 217 (2AA) of the Companies Act, 1956,
and to the best of their knowledge and belief and according to the
information and explanation obtained by them and save as mentioned
elsewhere in this Report, the attached Annual Accounts and the
Auditors'' Report thereon, your Directors confirm that:
a) That in the preparation of the Annual Accounts for the financial
year ended on 31st March, 2013, the applicable Accounting Standards had
been followed along with proper explanation relating to the material
departures.
b) That the Directors had 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 losses of
the Company for that period.
c) That 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 or other irregularities.
d) That the Directors had prepared the Annual Accounts on a going
concern basis.
8. AUDITORS'' REPORT
The Observations of the Statutory Auditors in their report read
together with the Notes on Annual Accounts are self explanatory and
therefore do not call for any further explanation.
9. STATUTORY AUDITORS
M/S Y.K. Gupta & Co Chartered Accountants, the existing Statutory
Auditors have expressed their unwillingness to continue as Statutory
Auditors of the Company, therefore, creating casual vacancy in the
Office of Directors. The Board has recommended the
appointment of M/S K.R.A& Co as Statutory Auditors in place of M/S Y.K.
Gupta & Co to hold office until the conclusion of the forthcoming
Annual General Meeting.
The Certificate from the Statutory Auditors has been received to the
effect that their appointment, if made would be within the limits
prescribed under Section 224(1B) of the Companies Act, 1956 and they
are not disqualified for appointment/re-appointment with in the meaning
of Section 226 of the said Act.
10. LISTING OF SHARES
The Equity Shares of the Company is listed on the Delhi Stock Exchange.
These shares were not traded during the year under review as the
trading of Shares was not taking place at the exchange.
11. CORPORATE GOVERNANCE
The Company believes that Corporate Governance report is a key element
in improving efficiency, transparency, accountability and growth as
well enhancing investor confidence. As per Clause 49 of the Listing
Agreement with the Stock Exchange, a separate section on Corporate
Governance forms part of the Annual Report.
A Certificate from the Statutory Auditors of the Company confirming
compliance with the condition of Corporate Governance as stipulated
under clause 49 of the Listing Agreement is given as Annexure to the
Corporate Governance Report.
12. ACKNOWLEDGEMENT
Your Directors would like to express their sincere appreciation for the
co-operation and assistance received from the Bankers, Regulatory
Bodies, stakeholders including Financial Institutions, Distributors,
various other Government Departments and its valued business associates
who have extended their valuable sustained support and encouragement
during the year.
Your Directors take this opportunity to recognize and place on record
their gratitude and appreciation for the commitment displayed by all
executives, officers and staff at all levels of the Company. We look
forward to your continued support in the future.
By Order of the Board
For Helpage Finlease Limited
Sidharth Goyal
(Chairman)
Place :New Delhi
Date :30th August 2013
Mar 31, 2012
Dear Members,
The directors have pleasure in presenting their 30th Annual Report
together with the Audited Statement of Accounts for the year ended on
31st March 2012.
1. FINANCIAL RESULTS
(In Rs.)
Particulars 2011-2012 2010-11
Income 188492.42 34180.00
Less: Total Expenditure 185150.73 32408.08
Net Profit/(Loss) before Tax & 3341.69 1771.92
Depreciation (PBDT)
Less: Depreciation 0 0
Net Profit/(Loss) after Depreciation 3341.69 1771.92
before Tax (PBT)
Less: Provision for Income Tax-Current 1704.34 1625.00
& Transfer to Reserve
Profit after Tax 1637.35 146.92
2. DIVIDEND
Your directors do not recommend any dividend for this year.
3. PUBLIC DEPOSITS
During the year under review, the Company has not accepted any deposit
under Section 58A of the Companies Act, 1956, read with Companies
(Acceptance of Deposits) Rules, 1975.
4. DIRECTORS
In terms of the provisions of the Companies Act, 1956, and Articles of
Association of the Company, Mr. Anil Kumar Goyal, Director of the
Company retires by rotation and being eligible, has offered himself for
re-appointment. Your directors recommend his re-appointment as per the
provisions of the Companies Act, 1956.
5. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE
EARNINGS AND OUTGO
The Companies (Disclosure of Particulars in the Report of Board of
Directors) Rules, 1988 as required under Section 217(1) (e) are not
applicable to our industry; hence no statement for disclosure has been
made. There was no foreign exchange earnings and outgo during the year
under review.
6. PARTICULARS OF EMPLOYEES
During the financial year under review, none of the Company''s employees
was in receipt of remuneration as prescribed under Section 217(2) of
the Companies Act, 1956 (Particulars of Employees) Rules, 1975, and
hence no particular are required to be disclosed in this Report.
7. DIRECTORS'' RESPONSIBILITY STATEMENT
In terms of provisions of Section 217 (2AA) of the Companies Act, 1956,
and to the best of their knowledge and belief and according to the
information and explanation obtained by them and save as mentioned
elsewhere in this Report, the attached Annual Accounts and the
Auditors'' Report thereon, your Directors confirm that:
a) That in the preparation of the Annual Accounts for the financial
year ended on 31st March, 2012, the applicable Accounting Standards had
been followed along with proper explanation relating to the material
departures.
b) That the Directors had 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 losses of
the Company for that period.
c) That 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 or other irregularities.
d) That the Directors had prepared the Annual Accounts on a going
concern basis.
8. AUDITORS'' REPORT
The Observations of the Statutory Auditors in their report read
together with the Notes on Annual Accounts are. self explanatory and
therefore do not call for any further explanation.
9. STATUTORY AUDITORS
M/s Mittal Bansal & Associates., Chartered Accountants, the existing
Statutory Auditors have expressed their unwillingness to continue as
Statutory Auditors of the Company, therefore, creating casual vacancy
in the Office of Directors. The Board has recommended the appointment
of M/S Y.K. Gupta & Co as Statutory Auditors in place of M/s Mittal
Bansal & Associates to hold office until the conclusion of the
forthcoming Annual General Meeting.
The Certificate from the Statutory Auditors has been received to the
effect that their appointment, if made would be within the limits
prescribed under Section 224(lB)of the Companies Act, 1956 and they not
disqualified for appointment/re-appointment with in the meaning of
Section 226 of the said Act.
10. LISTING OF SHARES
The Equity Shares of the Company is listed on the Delhi Stock Exehange.
these shares were not traded during the year under review as the
trading of Shares was not taking place at the exchange.
11. CORPORATE GOVERNANCE
The Company believes that Corporate Governance report is a key element
in improving efficiency, transparency, accountability and growth as
well enhancing investor confidence. As per Clause 49 of the Listing
Agreement with the Stock Exchange, a separate section on Corporate
Governance forms part of the Annual Report.
A Certificate from the Statutory Auditors of the Company confirming
compliance with the condition of Corporate Governance as stipulated
under clause 49 of the Listing Agreement is given as Annexure to the
Corporate Governance Report.
12. ACKNOWLEDGEMENT
Your Directors would like to express their sincere appreciation for the
co-operation and assistance received from the Bankers, Regulatory
Bodies, stakeholders including Financial Institutions, Distributors,
various other Government Departments and its valued business associates
who have extended their valuable sustained support and encouragement
during the year.
Your Directors take this opportunity to recognize and place on record
their gratitude and appreciation for the commitment displayed by all
executives, officers and staff at all levels of the Company. We look
forward to your continued support in the future.
By Order of the Board
For Helpage Finlease Limited
Sidharth Goyal
Place: New Delhi
Date: 28th August, 2012
Mar 31, 2011
DEAR Members,
The directors hereby present their 29th Annual Report together with
the Audited annual Accounts for the Year ended 31-03-2011.
FINANCIAL RESULTS
During the year under review, the total turnover of the Company is Rs.
34180/-. After meeting all the expenses and depreciation, your Company
has earned profit of Rs. 196.92/- Your directors expect better
performance next year.
DIVIDEND
Your directors do not recommend any dividend for this year.
FIXED DEPOSITS
During the period under report the Company neither invited nor accepted
any deposit from the public.
DIRECTORS
During the year Mr. Anil Kumar Goyal has been appointed as the Director
of the Company w.e.f. 02/04/2010.
Further, Mr. Ashok Kumar Gupta ceased to be the ''director of the
Company w.e.f. 07/04/2010. The Board wishes to place on record its
sincere appreciation for the valuable services rendered by them during
their tenure.
AUDITORS
M/s Mittal Bansal & Associates, Chartered Accountants, auditors of the
Company retires at the conclusion of this annual general meeting and
being eligible, offer themselves for re-appointment
NOTES ON ACCOUNTS
The observations of the Auditors and the notes on account are
self-explanatory.
PARTICULARS OF EMPLOYEES
There was no such person employed by the Company whose particulars are
required to be given by the section 217(2A) of the Companies Act, 1956
read with the particulars of employees rules, 1975.
PRUDENTIAL NORMS FOR NBFCs
Your Company has complied with the latest guidelines of RBI for
recognition of income, Assets, classifications, provisioning for
non-performing assets.
COMPLIANCE CERTIFICATE
A Certificate issued by RACHNA BHASIN, Practicing Company Secretary in
terms of the Provisions of Section 383A of the Companies Act, 1956 to
the effect that the Company has complied with the applicable provisions
of the said Act, is attached to this report.
ENERGY CONSERVATION AND TECHNOLOGY ABSORPTION
The particulars as prescribed under section 217(l)(e) of the Act, read
with companies (Disclosure of Particulars in The Report of Board of
Directors) Rules, 1988 in relation to Conservation of Energy and
Technology Absorption are not applicable to your company.
FOREIGN EXCHANGE EARNINGS AND OUTGO
During the year the foreign exchange earnings and foreign exchange
utilizations were NIL.
DIRECTOR''S RESPONSIBILITY STATEMENT
The Directors confirm:
1. That in the preparation of the annual accounts, the applicable
accounting standards have been followed and that no material departures
have been made from the same.
2. That they 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 and of the profit of the
Company for that period.
3. That they had taken proper and sufficient care for the maintenance
of adequate accounting records in accordance with the provisions of the
Companies Act, 1956 and for preventing and
detecting frauds and other irregularities.
4. That they have prepared the Annual Accounts on a going concern
basis.
ACKNOWLEDGEMENT
Your director wish to place on record their gratitude for the valuable
assistance and confidence provided to the company by all the business
associates and appreciation to all sections of the employees for their
sincere services..
By order of the Board of Directors
(Sidharth Goyal)
CHAIRMAN
DIN- 02855118
PLACE :New Delhi
DATE :16.05.2011
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