Mar 31, 2010
Dear Shareholders,
The Directors have pleasure in presenting the Fifteenth Annual Report
of the Company for the financial year ended 31st March, 2010.
FINANCIAL RESULTS:
The performance of the Company for the financial year ended 31s March,
2010 is summarized below:
(Rs.) (Rs)
2009-10 2008-09
Income 26090 15,000
Interest - -
Depreciation - -
Profit/ Loss Before Tax (580597) (10,247)
Provisions for Tax - -
Profit/Loss After Tax (580597) (10,247)
OPERATIONS:
The stock market trading has become very competitive where sustenance
itself has become very difficult due to sudden ups and downs in the
Trading pattern. However the Tractate with their expertise in the
trading in securities are trying to generate better busing for
The" company In the coming period of time. Your company is taking firm
Steps fn the orientation and business model. The company is
concentrating on improved procedures in stock trading process.
DIVIDEND:
Your directors do not recommend any dividend for the financial year.
PUBLIC DEPOSITS:
Your Company has not accepted any deposits falling within the
meaning of Sec.58A of the companies Act, 1956 read with the Companies
(Acceptance or Deposits) Kuies, during the financial year under review.
LISTING:
The equity shares of your company are listed on the Bombay Stock
Exchange, Madras Stock Exchange, Delhi Stock Exchange and Ahmedabad
Stock Exchange.
DIRECTORS:
in accordance with the Companies Act, 1956 read with Articles of
Association of the company the directors namely Mr. T. Anil Kumar and
Mr. V. Lakshmana Rao, directors of the company retire by rotation and have
expressed their willingness for reappointment
Your Board recommends the re-appointment of the Directors above.
CHANGE OF NAME OF THE COMPANY:
The Company has diver field its exiting line of business to
infrastructure Sector. Consequently the shareholder of the company
apporved the change from Boss Securities to Jyothi Infraventures
Limited Through postal Ballot held on 20.11.2009 20.11.2009.
AMENDMENT OF THE OBJECTS OF THE COMPANY:
The Infrastructure sector is in its peak now and accordingly the Company
decided to Change its line of Business. The Company through postural
ballot has amended its object clause.
CHANGE IN REGISTERED OFFICE OF THE COMPANY:
The Company's registered office changed from Plot No 110, Road No. 10
Jubilee Hills Hyderabad -500033 to Plot No. 13, Kavuri Hills, Madhapur,
Hyderbad -500081 w.e.f 01.10.2009
DEMAT CONNECTIVITY:
Pursuant to the provisions of Sec.217(2AA) of the Companies Act, 1956
the Board of Directors of your company herby certifies and confirm that:
i. In the prepation of the Annual Accounts, the applicable accounting
standards have been followed along with roper explanation relating to
material departures;
ii The Directors have selected such accounting polices and applied them
consistently and made judgment 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;
iii The Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of the companied Act, 1956 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.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION & FOREIGN
EXCHANGE EARNINGS AND OUT GO
The required information as per Sec.217 (1) (e) of the Companies Act
1956 is provided hereunder:
A. Conservation of Energy
The Company uses electric energy for its equipment such as air
conditioners, computer terminals, lighting and utilities in the work
premises. All possible measures have been taken to conserve the energy,
by incorporating energy efficient equipment.
B. Technology Absorption
1. Research and Development (R&D) Nil
2. Technology absorption, adoption and innovation : Nil
C. Foreign Exchange Earnings and Out Go
Foreign Exchange Earnings Nil
Foreign Exchange Outgo Nil
PARTICULARS OF EMPLOYEES
None of the employees is in receipt of remuneration exceeding the limit
and whose particulars are required to be given as prescribed under
Section 217 (2A) of the Companies Act, 1956, read with the Companies
(Particulars of Employees) Rules, 1975.
CODE OF CONDUCT
The Code has been circulated to all the members of the Board and Senior
Management and the compliance of the same has been affirmed by them.
AUDITORS
M/s. M.M. Reddy & Co, Chartered Accountants retire at the ensuing
Annual General Meeting and being eligible has expressed his willingness
for re-appointment. Your directors propose the appointment of M/s. M.M.
Reddy & Co, Chartered Accountants, as statutory auditor to hold office
until the conclusion of the next Annual General Meeting of the company.
AUDIT REPORT
The Auditors have commented that the company has not made any provision
in respect of debts aggregating to Rs.35741950/-. The Management is
confident that the dues are recoverable and hence no provision was made
for the same.
CORPORATE GOVERNANCE
As a listed company, necessary measures have been taken to comply with
the listing agreements of Stock Exchanges. A report on Corporate
Governance, along with a certificate of compliance from the Auditors,
Forms part of this Report as Annexure.
ACKNOWLEDGEMENTS Your directors would like to express their grateful
appreciation for assistance and operation received from clients, banks,
investors, Government, other statutory authorities and all others
associated with the company. Your directors also wish to place on
record their deep sense of appreciation for the excellent contribution
made by the employees at all levels, which enabled the company to
achieve sustained growth in the operational performance during the year
under review.
Declaration by Managing Director of affirmation by Director and senior
Management personnel of compliance with the code of conduct Management
personnel of compliance with me cue
The shareholders
I, Srinivas prasad Moturi, Director of the Company do herby declare
that the directors and senior management of the company have exercised
their authority and powers and discharged their duties and functions in
accordance with the requirements of the code of conduct as preceded by
the company and have sheered to the provisions of the same
For and on behalf of the Board of
Jyothi Infraventures Limited
Sd/-
Srinivas Prasad Moturi
Place: Hyderabad Director
Date: 31.05.2010
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