Mar 31, 2015
Dear Members,
Your Directors take pleasure in presenting the 30th Annual Report
together with Audited Financial Statements for the year ended March
31,2015.
FINANCIAL HIGHLIGHTS :
The performance during the period ended 31st March, 2015 has been as
under:
(Rs. in Lacs)
PATRICULARS
FOR THE FOR THE
YEAR YEAR
ENDED ENDED
31.03.2015 31.03.2014
SALES 1905.91 2594.19
OTHER INCOME 21.40 26.30
PROFIT/ (LOSS) BEFORE,
INTEREST, DEPRECIATION
AND TAX (57.11) 260.01
INTEREST 117.24 98.79
DEPRECIATION 112.93 79.02
PROVISION FOR TAXATION
(DEFEERED & CURRENT TAX)
PROFIT/ (LOSS) (93.98) 15.72
AFTER TAXATION (219.56) 51.70
OPERATING RESULTS:
During the year under review, the turnover of your Company has
decreased to Rs. 1905.91 lacs from Rs. 2594.19 lacs of the previous
year resulting in to incurring a loss of Rs. 219.56 lacs against profit
of Rs.51.70 lacs of the previous year.
DIVIDEND:
In view of Loss incurred during the year, your directors do not
recommend any dividend.
FUTURE OUTLOOK:
The market of main product of the Company has decreased substantially.
Your Company plans to develop new line of intermediate products while
continuing tall manufacturing activities.
CORPORATE GOVERNANCE:
Provision of Clause 49 of the Listing Agreement in Connection with
Corporate Governance are not applicable to the Company vide SEBI
circular dated September 15, 2014, since the paid-up capital of the
Company is less than Rs. 10 Crore and Net Worth of the Company is below
Rs. 25 Crore. However, since the Clause was applicable for 6 months
period, the whole year Corporate Governance Report is part of this
Report.
LISTING WITH STOCK EXCHANGE:
The Company confirms that it has paid the Annual Listing Fees for the
year 2015-16 to Bombay Stock Exchange where the Company's Shares are
listed.
EXTRACT OF ANNUAL RETURN :
The details forming part of the extract of the Annual Return in Form
MGT-9 is annexed herewith as Annexure "A".
NUMBER OF BOARD MEETINGS HELD :
The Board of Directors duly met 9 times during the financial year from
01st April, 2014 to 31st March, 2015.
A calendar of Meetings is prepared and circulated in advance to the
Directors. During the year, Nine Board Meetings were convened and held,
the details of which are given in the Corporate Governance Report. The
intervening gap between the meetings was within the period prescribed
under the Companies Act, 2013.
DIRECTORS' RESPONSIBILITY STATEMENT:
Pursuant to Section 134(5) of the Companies Act, 2013, Directors of
your Company hereby state and confirm that:
a) in the preparation of the annual accounts for the year ended 31st
March, 2015, the applicable accounting standards have been followed
along with proper explanation relating to material departures;
b) 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 the same period;
c) the directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of the Companies Act, 2013 for safeguarding the assets of
the company and for preventing and detecting fraud and other
irregularities;
d) they have prepared the annual accounts on a going concern basis;
e) they have laid down internal financial controls in the company that
are adequate and were operating effectively.
f) they have devised proper systems to ensure compliance with the
provisions of all applicable laws and these are adequate and are
operating effectively.
DECLARATION BY INDEPENDENT DIRECTORS:
All Independent Directors have given declarations that they meet the
criteria of independence as laid down under Section 149(6) of the
Companies Act, 2013 and Clause 49 of the Listing Agreement.
RELATED PARTY TRANSACTIONS:
Related party transactions that were entered during the financial year
were on an arm's length basis and were in the ordinary course of
business. Transactions with related parties entered by the Company in
the normal course of business are periodically placed before the Audit
Committee for its omnibus approval and the particulars of contracts
entered during the year as per Form AOC-2 is enclosed as Annexure "B".
PARTICULARS REGARDING CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND
FOREIGN EXCHANGE EARNINGS AND OUTGO:
Information required under Section 134(3)(m) of the Companies Act, 2013
read with Rule 8 of the Companies Accounts) Rules, 2014, is given in
the Annexure "C" to this report.
VIGIL MECHANISM/WHISTLE BLOWER POLICY:
In pursuant to the provisions of Section 177(9) & (10) of the Companies
Act, 2013, a Vigil Mechanism for directors and employees to report
genuine concerns has been established.
BOARD EVALUATION:
Pursuant to the provisions of the Companies Act, 2013 and Clause 49 of
the Listing Agreement, a structured questionnaire was prepared after
taking into consideration the various aspects of the Board's
functioning, composition of the Board and its committees. The Board has
carried out an annual performance evaluation of its own performance,
the directors individually as well as the evaluation of the working of
its Committees. The Board of Directors expressed their satisfaction
with the evaluation process.
DIRECTORS:
In accordance with the provisions of the Companies Act, 2013, Mr. S G
Thakur retires by rotation and being eligible offers himself for
re-appointment.
During the period under review, Director, Mr. Milind Kelkar resigned
from the Board with effect from 14th March, 2015. The Board places on
record his appreciation and gratitude for his guidance and contribution
during their association with the Company.
Pursuant to the provisions of the Section 161(1) of the Companies Act,
2013 read with the Articles of Association of the company, Ms. Sayali
Sohoni was appointed as an Additional Director and she shall hold
office only up to the date of this Annual General Meeting and being
eligible offer herself for re- appointment as Director.
Further, in terms of Section 149 read with Section 152 of the Companies
Act 2013, an independent director is now not required to retire by
rotation, and may be appointed on the Board of the Company for maximum
two terms of up to five years each.
AUDITORS:
i) Statutory Auditors :
The Auditors, M/s. Khedkar & Co. Chartered Accountants, Vadodara retire
at this Annual General Meeting and being eligible, offer themselves for
reappointment.
ii) Secretarial Audit:
According to the provision of Section 204 of the Companies Act, 2013
read with Rule 9 of the Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014, the Secretarial Audit Report
submitted by Company Secretary in Practice is enclosed as a part of
this report as Annexure"D".
AUDITOR'S REPORT:
No qualifications or adverse remarks have been made either by Statutory
Auditors in his report or by Company Secretary in practice in his
Secretarial Audit Report except full time Appointment of company
secretary by the company. The company has initiated effective steps for
the same.
SUBSIDIARIES:
Your Company does not have any subsidiary / subsidiaries within the
meaning of the Companies Act, 2013.
CORPORATE SOCIAL RESPONSIBILITY:
Your Company does not fall within the purview of Section 135 of the
Companies Act, 2013.
DEPOSITS:
The Company has not accepted any fixed deposits and accordingly no
amount was outstanding as on the date of the Balance Sheet.
REMUNERATION RATIO OF THE DIRECTORS / KEY MANAGERIAL PERSONNEL (KMP) /
EMPLOYEES:
Disclosures required under Section 197 of the Companies Act, 2013 read
with rule 5 of the Companies (Appointment & Remuneration of Managerial
Personnel) Rules, 2014 have been annexed as Annexure "E".
DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORK PLACE
(PREVENTION, PROHIBITION & REDRESSAL) ACT, 2013:
The Company has safe and healthy work environment that enables its
employees to work without fear, prejudices, gender bias and sexual
harassment and also set up guideline in line with the requirement of
The Sexual Harassment of Women at workplace (Prevention, Prohibition &
Redressal) Act, 2013.
Company has not received any complaint during the financial year.
ACKNOWLEDGEMENTS:
Your Directors wish to place on record their appreciation for the whole
hearted and sincere co- operation the Company has received from its
banker and various Government agencies. Your Directors also wish to
thank all the employees for their co- operation.
FOR AND ON BEHALF OF THE
BOARD OF DIRECTORS OF
LINK PHARMA CHEM LTD.
PLACE: VADODARA B. V. RETAREKAR
DATE : 30.05.2015 CHAIRMAN
Mar 31, 2014
Members of LINK PHARMA CHEM LIMITED
The Directors are pleased in present the 29th Annual Report together
with Audited Statement of Accounts for the period ended March 31,2014-:
1) FINANCIAL RESULTS : (Rs. in Lacs)
FOR THE FOR THE
YEAR ENDED YEAR ENDEND
31-3-2014 31-3-2013
SALES 2594.19 1806.31
OTHER INCOME 26.31 14.90
PROFIT BEFORE INTEREST, 260.01 233.37
DEPRECIATION AND TAX
INTEREST 113.56 122.92
DEPRECIATION 79.02 60.19
PROVISION FOR TAXATION 15.72 21.43
(DEFEERED & CURRENT TAX)
PROFIT AFTER TAXATION 51.70 28.83
2) OPERATING RESULTS:
During the year under review, the turnover of your Company has
increased to Rs. 2594.19 lacs from Rs. 1806.31 lacs of the previous
year. Your company has made profit of Rs, 51.70 lacs against profit of
Rs.28.83 lacs of the previous year
3) DIVIDEND:
In view of meagre profit earned for the year under review, your
Directors do not recommend any dividend,
4) FUTURE OUTLOOK :
Your Company hopes to have permission from the competent authority to
manufacture bulk drug products in coming four months periods.
The profitability of the Company is adversely affected due to the
seasonal nature of the major product used in the pesticide industry. To
overcome this, your Company has planned to manufacture new intermediate
products.
5) DEPOSITS :
The Company has neither received nor accepted any deposits from public
in terms of Section 58A of the Companies Act, 1956.
6) PARTICULARS REGARDING CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION
AND FOREIGN EXCHANGE EARNINGS AND OUTGO:
Pursuant to the applicable Rules read with Section 217(1 )(e) of the
Companies Act, 1956, details relating to Conservation of Energy,
Technology Absorption, Foreign Exchange earning and out-go are given in
the Annexure forming part of this Report.
7) PERSONNEL
During the year under review, none of the Employees was in receipt of
remuneration of Rs. 60,00,000/- per annum when employed through out
the year or Rs. 5,00,000/- per month when employed for part of the year
and therefore the provisions of Section of 217(2A) of the Companies
Act, 1956 read with the Companies (Particulars of Employees) Rules,
1975 as amended are not attracted.
8) DIRECTORS:
Shri B V Retarekar retires by rotation and being eligible, offers
himself for re-appointment Members are requested to reappoint him at
the ensuing annual general meeting of the Company.
9) AUDITORS AND AUDITORS'' REPORT :
M/s. Khedkar & Co. Chartered Accountants, Vadodara, Statutory Auditors
of the company who retires at the ensuing Annual General Meeting of the
Company, have given their consent to be reappointed as Statutory
Auditors of the Company. Your Directors recommend their appointment as
Statutory Auditors for the year 2014-15. The Notes to the Accounts
referred to in the Auditors'' Report are self- explanatory and therefore
do not call for any further comments.
10) COMPLIANCE CERTIFICATE :
The Compliance certificate in terms of Section 383A of the Companies
Act 1956, issued by a practising Company Secretary is annexed to this
report as Annexure "B".
11) CORPORATE GOVERNANCE:
In line with requirement of the Listing Agreement with the Stock
Exchanges, Report on Corporate
Governance is given in the Annexure forming part of this Report.
12) DIRECTORS'' RESPONSIBILITY STATEMENT :
As required under Section 217 (2AA) of the Companies Act, the Directors
hereby confirm that:
i) in the preparation of the annual accounts, the applicable accounting
standards had been followed along with proper explanation relating to
material departures;
ii) 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 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 had prepared the annual accounts on a going concern
basis.
13) ACKNOWLEDGEMENTS:
Vour Directors place on record their sincere appreciation for the
continued co-operation received from the Central, State and Local
Government Authorities, the larger family of shareholders and last but
not the least, the contribution made by the dedicated employees of
the company at all levels.
FOR AND ON BEHALF OF THE BOARD OF DIRECTORS
PLACE : VADODARA B. V. RETAREKAR
DATE ; 31.07.2014 CHAIRMAN
Mar 31, 2013
To, Members of LINK PHARMA CHEM LIMITED
The Directors are pleased in present the 28th Annual Report together
with Audited Statement of Accounts for the period ended March 31,
2013-:
1) FINANCIAL RESULTS :
(Rs. in Lacs)
FOR THE YEAR FOR THE YEAR
ENDED ENDED
31-3-2013 31-3-2012
SALES 1806.31 1917.16
OTHER INCOME 14.90 28.19
PROFIT BEFORE 233.37 203.75
INTEREST, DEPRECIATION AND TAX
INTEREST 122.92 86.86
DEPRECIATION 60.19 48.34
PROVISION FOR TAXATION 21.43 18.93
(DEFEERED & CURRENT TAX)
PROFIT AFTER 28.83 49.62
TAXATION
2) OPERATING RESULTS :
During the year under review, the turnover of your Company, has
decreased to Rs.1806.31 lacs from Rs.1917.16 lacs of the previous year.
Your company has made profit of Rs. 28.83 lacs as against profit of
Rs.49.62 lacs of the previous year, in view of increase in interest and
depreciation due to the implementation of new project.
3) DIVIDEND :
In view of meagre profit your Directors do not recommend any dividend
for the year under review.
4) FUTURE OUTLOOK :
In view of changed international scenario, your Company plans to export
its existing products. Necessary permission from competent authorities
for manufacturing bulk drug products is awaited.
5) DEPOSITS :
The Company has neither received nor accepted any deposit from public
in terms of Section 58A of the Companies Act, 1956.
6) PARTICULARS REGARDING CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION
AND FOREIGN EXCHANGE EARNINGS AND OUTGO:
Pursuant to the applicable Rules read with Section 217(1)(e) of the
Companies Act, 1956, details relating to Conservation of Energy,
Technology Absorption, Foreign Exchange earning and out-go are given in
the Annexure forming part of this Report.
7) PERSONNEL :
During the year under review, none of the Employees was in receipt of
remuneration of Rs. 60,00,000/- per annum when employed through out the
year or Rs. 5,00,000/- per month when employed for part of the year and
therefore the provisions of Section of 217(2A) of the Companies Act,
1956 read with the Companies (Particulars of Employees) Rules, 1975 as
amended are not attracted.
8) DIRECTORS :
Shri Suresh Dhatrak retires by rotation and being eligible, offers
himself for re-appointment. Members are requested to reappoint him at
the ensuing annual general meeting of the Company.
9) AUDITORS AND AUDITORS'' REPORT :
M/s. Khedkar & Co. Chartered Accountants, Vadodara, Statutory Auditors
of the company who retires at the ensuing Annual General Meeting of the
Company, have given their consent to be reappointed as Statutory
Auditors of the Company. Your Directors recommend their appointment as
Statutory Auditors for the year 2013-14. The Notes to the Accounts
referred to in the Auditors'' Report are self- explanatory and therefore
do not call for any further comments.
10) COMPLIANCE CERTIFICATE :
The Compliance certificate in terms of Section 383A of the Companies
Act 1956, issued by a practicing Company Secretary is annexed to this
report as Annexure "B".
11) DIRECTORS'' RESPONSIBILITY STATEMENT :
As required under Section 217 (2AA) of the Companies Act, the Directors
hereby confirm that :
i) in the preparation of the annual accounts, the applicable accounting
standards had been followed along with proper explanation relating to
material departures;
ii) 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 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 had prepared the annual accounts on a going concern
basis.
12) ACKNOWLEDGEMENTS :
Your Directors place on record their sincere appreciation for the
continued co-operation received from the Central, State and Local
Government Authorities, the larger family of shareholders and last but
not the least, the contribution made by the dedicated employees of the
company at all levels.
For and on Behalf of Board of
Directors of LINK PHARMA CHEM LIMITED
PLACE : BARAODA B. V. RETAREKAR
DATE : 30.05.2013 CHAIRMAN
Mar 31, 2011
Members of LINK PHARMA CHEM LIMITED
The Directors are pleased to present the 26th Annual Report together
with Audited Statement of Accounts for the period ended on 31st March
2011-:
1) FINANCIAL RESULTS : (Rs. in Lacs)
FOR THE YEAR FOR THE YEAR
ENDED ENDED
31-3-2011 31-3-2010
SALES 1442.47 1179.52
OTHER INCOME 121.42 10.98
PROFIT BEFORE 139.11 179.33
INTEREST, DEPRECIATION AND TAX
INTEREST 68.02 52.47
DEPRECIATION 48.26 48.80
PROVISION FOR TAXATION (5.41) (10.87)
(DEFEERED & CURRENT TAX)
PROFIT AFTER 22.83 88.94
TAXATION
NET PROFIT 22.83 88.94
2) OPERATING RESULTS :
During the year under review, the turnover of your Company has
increased to Rs.1442.47 lacs from Rs.1179.52 lacs of the previous year
However, your company has made lower profit of Rs.22.83 lacs as against
profit of Rs.88.94 lacs of the previous year due to increased cost of
production.
3) DIVIDEND :
In view of meager profit, your Directors do not recommend any dividend
for the year under review.
4) FUTURE OUTLOOK :
Along with present manufacturing activities, your company has
identified jobwork of some of reputed companies to utilise the present
installed capacity of the company.
5) DEPOSITS :
The Company has neither received nor accepted any deposit from public
in terms of Section 58A of the Companies Act, 1956.
6) PARTICULARS REGARDING CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION
AND FOREIGN EXCHANGE EARNINGS AND OUTGO :
Pursuant to the applicable rules read with section 217(1)(e) of the
Companies Act, 1956 details relating to conservation of energy
technology absorption and foreign exchange earning and outgo are given
in the annexure A forming part of this report.
7) PERSONNEL :
During the year under review, none of the Employees was in receipt of
remuneration of Rs.24,00,000/- per annum when employed through out the
year or Rs. 2,00,000/- per month when employed for part of the year and
therefore the provisions of Section of 217(2A) of the Companies
(Particulars of Employees) Rules, 1975 as amended are not attracted.
8) DIRECTORS :
Shri Suresh B Dhatrak retires by rotation and being eligible, offers
himself for re-appointment. Mr. Devang Shah was appointed as an
additional Director of the Company with effect from 31st July, 2011 by
your Directors. Members are requested to reappoint him at the ensuing
annual general meeting of the Company.
9) AUDITORS AND AUDITORS' REPORT :
M/s Khedkar & Co. Chartered Accountants, Vadodara statutory auditors of
the Company who retires at the ensuing Annual General Meeting of the
Company, have given their consent to be reappointed as statutory
auditors of the Company. Your Directors recommend their appointment as
statutory auditors for the year 2011 - 12. The notes to the accounts
referred to in the Auditors' Report are self explanatory and therefore
do not call for further comments.
10) COMPLIANCE CERTIFICATE :
The Compliance certificate in terms of Section 383A of the Companies
Act 1956, issued by a practicing Company Secretary is annexed to this
report as Annexure "B".
11) DIRECTORS' RESPONSIBILITY STATEMENT :
As required under Section 217 (2AA) of the Companies Act,1956 the
Directors hereby confirm that :
i) in the preparation of the annual accounts, the applicable accounting
standards had been followed along with proper explanation relating to
material departures;
ii) 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;
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 had prepared the annual accounts on a going concern
basis.
12) ACKNOWLEDGEMENTS :
Your directors express their thanks for the services rendered by the
Government agencies, Banks and employees at all levels and all other
concerned.
By the Order of Board of Directors of
LINK PHARMA CHEM LIMITED
B.V. RETAREKAR
CHAIRMAN
PLACE : VADODARA
DATE : 25.08.2011
Mar 31, 2010
The Directors have pleasure in presenting the 25th Annual Report and
the Audited Accounts for the financial year ended March 31, 2010-:
1) FINANCIAL RESULTS : (Rs. in Lacs)
FOR THE YEAR FOR THE YEAR
ENDED ENDED
31-3-2010 31-3-2009
SALES 1179.52 1279.64
OTHER INCOME 10.98 23.76
PROFIT BEFORE 179.33 72.38
INTEREST, DEPRECIATION
AND TAX
INTEREST 52.47 45.14
DEPRECIATION 48.80 49.50
PROVISION FOR TAXATION (10.87) (3.78)
(DEFEERED & CURRENT TAX)
PROFIT AFTER 88.94 (18.48)
TAXATION
LESS:
NET PROFIT 88.94 (18.48)
ADD : TRANSFERRED FROM
PREVIOUS YEAR
BALANCE AVAILABLE FOR 88.94 (18.48)
APPROPRIATION
LESS : TRANSFER TO 88.94 (18.48)
RESERVES
BALANCE CARRIED TO
BALANCE SHEET
2) OPERATING RESULTS :
During the year under review, the turnover of your Company has
decreased to Rs.1179.52 lacs from Rs. 1279.64 lacs of the previous
year. However, your company has made profit of Rs.88.94 lacs as
against loss of Rs.18.48 lacs of the previous year.
3) DIVIDEND :
In view of meagre profit, your Directors do not recommend any dividend
for the year under review.
4) OPERATIONS :
Due to recessionary conditions prevailing in the chemical segment, your
company could not achieve the desirable turnover & also due to fixed
overhead, the company could not generate more profits.
5) FUTURE OUTLOOK .
Your company has received Environment clearance from Ministry of
Environment and Forest for the newly acquired land and building i.e.
Plot No.163 & 164 G.I.D.C Nandesari. Your company has already started
the project work at new site.
6) DEPOSITS :
Your Company has neither invited nor accepted any deposits in terms of
Section 58A of the Companies Act, 1956.
7) PARTICULARS REGARDING CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION
AND FOREIGN EXCHANGE EARNINGS AND OUTGO :
Pursuant to the applicable Rules read with Section 217(1)(e) of the
Companies Act, 1956, details relating to Conservation of Energy,
Technology Absorption, Foreign Exchange Earning and Out-go are given in
the Annexure A forming part of this Report.
8) PERSONNEL :
During the year under review, none of the Employees was in receipt of
remuneration of Rs. 24,00,000/- per annum when employed through out the
year or Rs. 2,00,000/- per month when employed for part of the year and
therefore the provisions of Section of 217(2A) of the Companies Act,
1956 read with the Companies (Particulars of Employees) Rules, 1975 as
amended are not attracted.
9) DIRECTORS :
Shri Milind Kelkar retires by rotation and being eligible, offers
himself for reappointment.
10) AUDITORS AND AUDITORst REPORT :
M/s. Khedkar & Co. Chartered Accountants, Vadodara, Statutory Auditors
of the company who retires at the ensuing Annual General Meeting of the
Company, have given their consent to be reappointed as Statutory
Auditors of the Company. Your Directors recommend their appointment as
Statutory Auditors for the year 2010-11. The Notes to the Accounts
referred to in the Auditorst Report are self- explanatory and therefore
do not call for any further comments.
11) COMPLIANCE CERTIFICATE :
The Compliance certificate in terms of Section 383A of the Companies
Act 1956, issued by a practising Company Secretary is annexed to this
report as Annexure "B".
12) DIRECTORst RESPONSIBILITY STATEMENT :
As required under Section 217 (2AA) of the Companies Act,1956 the
Directors hereby confirm that :
i) in the preparation of the annual accounts, the applicable accounting
standards had been followed along with proper explanation relating to
material departures;
ii) 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;
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 had prepared the annual accounts on a going concern
basis.
13) ACKNOWLEDGEMENTS :
Your Directors place on record their sincere appreciation for the
continued co-operation received from the Central, State and Local
Government Authorities, the large family of shareholders and last but
not the least, the, contribution made by the dedicated employees of the
company at all levels.
By the Order of Board of Directors of
LINK PHARMA CHEM LIMITED
PLACE : VADODARA B. V. RETAREKAR
DATE : 30.06.2010 CHAIRMAN
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