Mar 31, 2014
Dear Members,
The Directors have pleasure in presenting the 21st Annual Report with
Audited Statement of Accounts of the company for the year ended 31st
March, 2014.
FINANCIAL RESULTS:
Financial results of the company for the year under review are
summarized as below:
(Rs. In Lacs)
Particulars Year Ended Year Ended
31.3.2014 31.03.2013
Total Income 43.31 49.79
Profit Before Depreciation & Tax 23.96 10.92
Depreciation 3.35 1.35
Profit/ (Loss) Before Tax 20.61 9.56
Provision for Tax - Current 4.28 3.15
- Deferred 2.08 (0.13)
Profit/(Loss) after Tax 14.24 6.54
Transfer to Statutory Reserve (2.85) (1 30)
Surplus Carried to Balance Sheet 79.49 68.09
PERFORMANCE REVIEW:
During the year under review, your company achieved total income of Rs.
43.31 Lacs as compared to Rs.49.79 Lacs in the previous year. Net
profit for the year is Rs. 14.24 Lacs as compared to net profit of Rs.
6.54 Lacs in the previous year. Your directors are undertaking the
initiatives to improve the financial results in the coming years.
FIXED DEPOSITS:
Your Company has not accepted any deposits from public. There are no
unclaimed or unpaid deposits as on 31st March, 2014.
DIRECTORS:
* Mr. P. C. Bindal, Director of the Company retires by rotation at the
forthcoming Annual General Meeting and being eligible offers himself
for re-appointment
* Appointment of Mr. Pradeep Kumar Jain & Mr. Sanjay Kumar Agarwal as
Independent Directors for five consecutive years with effect from the
conclusion of the forthcoming Annual General Meeting upto 28th
September, 2019.
* The Board recommends the confirmation for the appointment of Mr.
Vijay Kumar as the Manager of the Company for a period of five years
with effect from 21st December, 2013 at remuneration of Rs.15, 000/-
per month.
* The Board recommends the appointment of Ms. Kusha Bindal as Woman
Director.
* Mr. Manushree Bindal, who was appointed as an Additional Director on
15.05.2014 to hold the office till 21st AGM i.e. 29.09.2014. The Board
did not recommned his regularisation as ordinary director in the
ensuing Annual General Meeting.
MATERIAL CHANGES:
There are no material changes and commitments, affecting the financial
position of the company between the end of financial year of your
company and the date of Director''s Report.
AUDITORS:
M/s. G.C. Sharda & Co., Chartered Accountants, the Auditors of the
company retires at the forthcoming Annual General Meeting and is
eligible for re-appointment. The Audit Committee and your Board
recommend their reappointment as Auditors of the Company. The company
has received letter from them to the effect that their appointment, if
made would be within prescribed limit under Section 224(1B) of the
Companies Act, 1956.
AUDITOR''S REPORT:
The observations in the Auditor''s Report are dealt in the notes forming
part of accounts at appropriate places and the same being self
explanatory, no further comment is considered necessary.
DEMATERIALISATION OF SHARES:
As the members are aware, your company''s shares are tradable compulsory
in electronic form. Accordingly, your company has established
connectivity with both the depositories i.e. National Securities
Depository Ltd. (NSDL) and Central Depository Services (India) Ltd.
(CDSL). Members may avail the facility of dematerialization of
company''s shares on either of the Depositories as aforesaid.
DIRECTORS'' RESPONSIBILITY STATEMENT:
Pursuant to Section 217(2AA) of the Companies Act, 1956, with respect
to Directors'' Responsibility Statement, it is hereby confirmed:
i) That in the preparation of the accounts for the financial year ended
31st March, 2014; the applicable accounting standards have been
followed along with proper explanation relating to material departures.
ii) That the Directors have selected such accounting policies and
applied them consistently and made judgments and estimates that were
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 the year under review.
iii) 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
the Company and for preventing and detecting fraud and other
irregularities.
iv) That the Directors have prepared the accounts for the financial
year ended 31st March, 2014 on ''going concern'' basis.
PARTICULARS OF EMPLOYEES:
There is no employee whose particulars are required to be furnished in
terms of Sec. 217(2A) of the Companies Act, 1956 and rules made there
under.
PERSONNEL:
The Board wishes to place on record their deep appreciation of all
employees of the company for their endeavor and co- operation. The
relations with employees continued to be cordial throughout the year.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO:
Particulars regarding conservation of energy, technology absorption,
foreign exchange, earning and outgo
Information as required under section 217 (1) (e) of the Companies Act,
1956 read with the Companies (Disclosure of particulars in the report
of the board of Directors) Rules, 1988 for forming part of the
Director''s report for the financial year ended 31st March, 2014 is as
follows :-
1. Conservations of Energy
a. Energy conservation measures taken Not Applicable
b. Additional investment & proposals if any Not Applicable
being implemented.
c. Impact of measures of a & b above for reduction Not Applicable
of energy consumption and consequent impact
On cost of production
Total energy consumption and energy consumption Not Applicable
Per unit of production as per form ''A'' of the
Annexure in respect of industries specified in
the Schedule thereto.
2. Technology Absorption
Research and Development (R&D)
1. Specific area in which R & D The company is conducting R & D to
is carried by the company make its business more profitable.
2. Benefits derived as a result The awareness of investor''s
of the above R &D benefit has increased.
3. Future plan of action The company would continue R & Ds
for more investors'' awareness.
4. Expenditure on R & D The company has not undertaken any
major expenditure on R & D
i) Capital
ii) Recurring Total R & D
Expenditure as a percentage
of total turnover
Technology Absorption, Adaptation and innovation
1. Efforts in brief, made through towards technology
absorption, adaptation and innovation Not Applicable
2. Benefits derived as a result of the above
efforts, e.g. product improvement, cost reduction,
product development, import substitution etc. Not Applicable
3. Information regarding imported technology
(a) Technology Imported None
(b) Year of Import Not Applicable
(c) Has the technology been fully absorbed Not Applicable
(d) If not fully absorbed, areas where this has not Not Applicable
taken place, reasons therefore and future
plans of action
CORPORATE GOVERNANCE:
A report on Corporate Governance appears in this Annual Report and the
certificate from M/s. G.C. Sharda & Co., Chartered Accountants,
Statutory Auditors with regard to Compliance of the Corporate
Governance code by your Company is annexed hereto as Annexure and forms
part of this report.
ACKNOWLEDGEMENT:
We thank our clients, investors and bankers for their continued support
during the year. We place on record our appreciation of the
contribution made by employees at all levels. We thank the Government
of India, particularly the Securities and Exchange Board of India
(SEBI), Stock Exchanges, the State Governments, and other government
agencies/authorities for their support, and look forward to their
continued support in future.
Your Company''s employees are the keys for its attaining new heights.
Your Directors place on record their deep appreciation of the
commitment and professionalism displayed by them.
We also value the support provided by the Company''s Shareholders and we
look forward to your continuing future support.
FOR AND ON BEHALF OF THE BOARD
For Lead Financial Services Limited
P.C. BINDAL MANUSHREE BINDAL
Place : New Delhi DIRECTOR DIRECTOR
Date : 20.08.2014 DIN: 00004769 DIN: 03620670
Mar 31, 2010
The Directors have pleasure in presenting the 17th Annual Report with
Audited Statement of Accounts of the company for the year ended 31-
March, 2010.
FINANCIAL RESULTS:
Financial results of the company for the year under review are
summarized as below: (Rs. In Lacs)
Particulars Year Ended Year Ended
31.3.2010 3103.2009
Total Income 114.56 39.43
Profit Before Depreciation & Tax 15.12 10.25
Depreciation 0.29 0.35
Profit/(Loss) Before Tax 14.83 9.90
Provision for Tax - Current 3.71 2.21
- Deferred (0.008) 0.31
- Fringe Benefit - 0.04
- Previous Tax 0.02 0.11
Profit/ (loss) after Tax 11.10 7.23
Transfer to Statutory Reserve 2.39 1.45
Surplus Carried to Balance Sheet 49.07 39.49
PERFORMANCE REVIEW:
During the year under review, your company achieved total income of
Rs.114.56 Lacs as compared to Rs.39.43 Lacs in the previous year. Net
MANAGEMENT DISCUSSION AND ANALYSIS : Industrial Structure and
Development
During the phase of recovery, the challenge before India was striking
the right balance between a host of macro issues containing fiscal
deficit, smooth roll back of stimulus programmes "without affecting the
growth momentum, yet maintaining adequate liquidity for enabling credit
All this,
reducing deficits.
Outlook, Risk and Concern
Our risk management strategy is based on a robust process of risk
evaluation, assessment and monitoring key metrics aided by appropriate
risk and risk monitoring and reportyng.
Opportunities and Threats
Adequacy of Internal Control System
Financial Performance
Operational Results, 2009-10 Versus 2008-09: (Rs. in Lacs)
Particulars 2009-10 2008-09
Total Income 114.56 39.43
Interest & Financial Charges 4.06 5.48
Expenses 95.38 23.70
Depreciation 0.29 0.35
Total Expenditure 99.73 29.53
Profit before Tax(PBT) 14.83 9.90
Provision for Tax 3.73 2.67
Profit after tax (PAT) 11.10 7.23
Equity Capital 330.00 330.00
Reserves & Surplus 56.06 44.96
Earning per Share . 0.34 0.22
Segment wise Performance
Company operates only in one segment.
DIVIDEND:
Your Directors regret their inability to recommend any dividend in view
of deploying the funds for expansion of business during the year under
review.
FIXED DEPOSITS:
Your Company has not accepted any deposits from public. There are no
unclaimed or unpaid deposits as on 31- March, 2010.
DIRECTORS
Sh. P. C. Bindal, Director of the Company retires by rotation at the
forthcoming Annual General Meeting and being eligible offers himself
for re- appointment
MATERIAL CHANGES:
There are no material changes and commitments, affecting the financial
position of the company between the end of financial year of your
company and the date of Directors Report.
AUDITORS:
M/s. G.C. Sharda & Co., Chartered Accountants, the Auditors of the
company retire at the forthcoming Annual General Meeting and are
eligible for reappointment. The Audit Committee and your Board
recommend their reappointment as Auditors of the Company. The company
has received letter from them to the effect that their appointment, if
made would be within prescribed limit under Section 224(1B)of the
Companies Act, 1956.
AUDITORS REPORT:
The observations in the Auditors Report are dealt in the notes forming
part of accounts at appropriate places and the same being self
explanatory, no further comment is considered necessary.
DEMATERIALISATION OF SHARES :
As the members are aware, your companys shares are tradable compulsory
in electronic form. Accordingly, your company has established
connectivity with both the depositories i.e. National Securities
Depository Ltd. (NSDL) and Central Depository Services (India) Ltd.
(CDSL). Members may avail the facility of dematerialisation of
companys shares on either of the Depositories as aforesaid.
DIRECTORS RESPONSIBILITY STATEMENT:
Pursuant to Section 217(2AA) of the Companies Act, 1956, with respect
to Directors Responsibily Statement, it is hereby confirmed:
i) That in the preparation of the accounts for the financial year ended
31- March, 2010, the applicable accounting standards have been followed
along with proper explanation relating to material departures.
ii) That the Directors have selected such accounting policies and
applied them consistently and made judgments and estimates that were
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 the year under review.
iii) That the Director 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
the Company and for preventing and detecting fraud and other
irregularities.
iv) That the Directors have prepared the accounts for the financial
year ended 31- March, 2010 on going concern basis.
PARTICULARS OF EMPLOYEES:
There is no employee whose particulars are required to be furnished in
terms of Sec. 217(2A) of the Companies Act, 1956 and rules made
thereunder.
PERSONNEL
The Board wishes to place on record their deep appreciation of all
employees of the company for their endeavor and co-operation. The
relations with employees continued to be cordial throughout the year.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO:
A. Conservation of Energy and Technology Absorption
Your company has no activity relating to conservation of energy and
technology absorption. Hence provision requiring particulars under
Section 217 (1) (e) of the Companies Act, 1956 read with Rule 2 of the
Companies (Disclosure of Particulars in the Report of Board of
Directors) Rules, 1988 is not applicable
B. Foreign Exchange Earnings and Outgo
The Company did not have any foreign exchange income/ outflow.
CORPORATE GOVERNANCE:
A report on Corporate Governance appears in this Annual Report an d the
certificate from M/s. G.C. Sharda & Co., Chartered Accountants,
Statutory Auditors with regard to Compliance of the Corporate
Governance code by your company is annexed hereto as Annexure and forms
part of this report.
ACKNOWLEDGEMENT:
We thank our clients, investors and bankers for their continued support
during the year. We place on record our appreciation of the
contribution made by employees at all levels. We thank the Government
of India, particularly the Securities And Exchange Board of India
(SEBI). Stock Exchanges, the State Governments, and other government
agencies/authorities for their support, and look forward to their
continued support in future.
Your Companys employees are the keys for is attaining new heights.
Your Directors place on record their deep appreciation of the commit-
ment and professionalism displayed by them.
We also value the support provided by the Companys Shareholders and we
look forward to your continuing future support.
For and On Behalf of the Board
Place : New Delhi (P.C. BINDAL)
Dated : 30.07.2010 Chairman
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