Mar 31, 2014
Dear Shareholders:
The Directors have pleasure in presenting the 34th ANNUAL REPORT on
the business and operations of the Company and Audited Statement of
Accounts of the Company for the year ended 31st March, 2014.
1) FINANCIAL RESULTS OF THE COMPANY ARE AS UNDER:
CURRENT YEAR PREVIOUS YEAR
RS. RS .
Profit for the year after meeting all 11,55,123 11,47,972
charges and expenses but before
provision for taxation
Less: Provision for tax - (1,25,000)
Add: B/f forward from previous 5,19,241 6,81,014
year
Add: Excess provision written 39,745 -
back
Available for appropriation 17,14,109 17,03,986
Proposed Dividend (2,45,000) (2,45,000)
Corporate Dividend Tax - (39,745)
Transfer to General Reserve - (9,00,000)
Amount to be carried forward to 14,69,109 5,19,241
next year
17,14,109 17,03,986
2) DIVIDEND:
The board of Directors has recommended a dividend of Rs.1/- per share
for the share of Rs.10/- each fully paid, which is equivalent to 10% of
the paid up share of the company for the year ended 31st March 2014.
3) SUBSIDIARY COMPANY :
The copy of the audited accounts and Directors Report for the company''s
subsidiary, Keen Investment And Leasing Limited for the year ended 31st
March, 2014 is annexed. The statement required to be furnished under
section 212 of the Companies Act, 1956 is also attached.
4) DIRECTORS :
In accordance with the Provisions of Section-152 of the Companies Act,
2013 and the Company''s Articles of Association Mr Pavankumar Sanwarmal,
Director retire by rotation of the forthcoming Annual General Meeting
and being eligible offer themselves for re-appointment.
5) DIRECTOR RESPONSIBILITY STATEMENT
Pursuant to section 217(2AA) of the Companies Act, 1956 the Directors
confirm that:
1. In presentation of the annual accounts, the applicable standards had
been followed along with proper explanation relation to material
departures;
2. The Directors had 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
your Company at the end of the financial year and of the profit of your
Company for that period;
3. The Directors had 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 detection fraud and other
irregularities;
4. The Directors had prepared the annual accounts on a going concern
basis.
6) CONSOLIDATED FINANCIAL STATEMENTS :
In accordance with the requirements of the Accounting Standard AS - 21
prescribed by the Institute of Chartered Accountants of India, the
consolidated Financial Statements of the company and its subsidiary,
Keen Investment & Leasing Limited are annexed to this report.
7) AUDITORS
The Auditors, M/s A.K.Nevatia & Associates, Chartered Accountants,
retire at the ensuing Annual General Meeting and being eligible, offer
themselves for re-appointment for three consecutive years, to hold
office from the conclusion of this Annual General Meeting, until the
conclusion of Thirty Seventh Annual General Meeting of the Company,
subject to ratification at
every Annual General Meeting. The remuneration of the Auditors shall be
fixed by the board after getting shareholders consent as usual.
The Company has received confirmation from A.K.Nevatia & Associates to
the effect that their re-appointment, if made, would be within the
prescribed limits under Section-141(3)(g) of the Companies Act, 2013
and that they are not disqualified for re-appointment.
8) PARTICULARS OF EMPLOYEES
None of the employee of the company received remuneration in excess of
the limit specified u/s 217 (2A) of the Companies Act, 1956
9) COMPLIANCE CERTIFICATE:
A compliance certificate from a Company Secretary in whole time
practice, as required under section 383A of the Companies Act, 1956,
regarding compliance with the provisions of the Act is annexed.
10) DISCLOSURE OF PARTICULARS WITH RESPECT OF CONSERVATION OF ENERGY
The details as required by Companies (Disclosure of particulars in
Report of Board of Directors) Rules, 1988 for conservation of Energy,
Technology Absorption and Foreign Exchange earnings and outgo are not
applicable to the Company having regard to the nature of business of
the Company.
11) APPRECIATION
We wish to place on record our deep and sincere appreciation for the
contribution made by the workers, staff and executives to the
performance of the Company.
BY ORDER OF THE BOARD OF DIRECTORS
Sd/- sd/-
Place : MUMBAI PAVANKUMAR SANWARMAL / RITA PAVANKUMAR/
DIRECTORS
Dated : 29/05/2013
Mar 31, 2013
TO THE SHAREHOLDERS
Dear Shareholders:
The Directors have pleasure in presenting the ANNUAL REPORT on the
business and operations of the Company and Audited Statement of
Accounts of the Company for the year ended 31 st March, 2013.
1) FINANCIAL RESULTS OF THE COMPANY ARE AS UNDER;
CURRENT YEAR PREVIOUS YEAR
RS. RS.
Profit for the year after meeting 11,47,972 41,661
all charges and expenses but
before provision for taxation
Less: Provision for tax (1,25,000) -
Add: B/f forward from previous 6,81,014 12,11,842
year
Add: Excess provision written -- 2,511
back
Available for appropriation 17,03,986 12,56,014
Proposed Dividend (2,45,000) --
Corporate Dividend Tax (39,745) --
Transfer to General Reserve (9,00,000) (5,75,000)
Amount to be carried forward 5,19,241 6,81,014
to next year
17,03,986 12,56,014
2) DIVIDEND:
The board of Directors has recommended a dividend of Rs.1/- per share
for the share of Rs.10/- each fully paid, which is equivalent to 10% of
the paid up share of the company for the year ended 31st March 2013.
3) SUBSIDIARY COMPANY :
The copy of the audited accounts and Directors Report for the company''s
subsidiary, Keen Investment And Leasing Limited for the year ended 31st
March, 2013 is annexed. The statement required to be furnished under
section 212 of the Companies Act, 1956 is also attached.
4) DIRECTORS :
Mrs. Rita Pavankumar retires by rotation at the ensuring Annual General
Meeting and being eligible offer herself for re- appointment.
5) DIRECTOR RESPONSIBILITY STATEMENT
Pursuant to section 217(2AA) of the Companies Act, 1956 the Directors
confirm that:
1. In presentation of the annua! accounts, the applicable standards
had been followed along with proper explanation relation to material
departures;
2. The Directors had 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 your Company at the end of the financial year and of the profit of
your Company for that period;
3. 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 your Company and
for preventing and detection fraud and other irregularities;
4. The Directors had prepared the annual accounts on a going concern
basis.
6) CONSOLIDATED FINANCIAL STATEMENTS :
In accordance with the requirements of the Accounting Standard AS - 21
prescribed by the Institute of Chartered Accountants of India, the
consolidated Financial Statements of the company and its subsidiary,
Keen Investment & Leasing Limited are annexed to this report.
7) AUDITORS
A.K. NEVATIA & ASSOCIATES, Chartered Accountants, retiring auditors is
eligible for re- appointment and offers them for reappointment at the
ensuing annual general meeting of the company.
8) PARTICULARS OF EMPLOYEES
None of the employee of the company received remuneration in excess of
the limit specified u/s 217 (2A) of the Companies Act, 1956
9) COMPLIANCE CERTIFICATE:
A compliance certificate from a Company Secretary in whole time
practice, as required under section 383A of the Companies Act, 1956,
regarding compliance with the provisions of the Act is annexed.
10) DISCLOSURE OF PARTICULARS WITH RESPECT OF CONSERVATION OF ENERGY
The details as required by Companies (Disclosure of particulars in
Report of Board of Directors) Rules, 1988 for conservation of Energy,
Technology Absorption and Foreign Exchange earnings and outgo are not
applicable to the Company having regard to the nature of business of
the Company
11) APPRECIATION
We wish to place on record our deep and sincere appreciation for the
contribution made by the workers, staff and executives to the
performance of the Company.
BY ORDER OF THE BOARD OF DIRECTORS
PAVANKUMAR SANWARMAL / RITA PAVANKUMAR/
Place : MUMBAI
Dated : 31/05/2013 DIRECTORS
Mar 31, 2012
TO THE SHAREHOLDERS
Dear Shareholders:
The Directors have pleasure in presenting the ANNUAL REPORT on the
business and operations of the Company and Audited Statement of
Accounts of the Company for the year ended 31st March, 2012.
FINANCIAL RESULTS OF THE COMPANY ARE AS UNDER:
CURRENT
YEAR PREVIOUS
YEAR
Rs. Rs.
Profit for the year after meeting 41,661 14,75,399
all charges and expenses but
before provision for taxation
dess: Provision for taxation
Add: B/f forward from previous 12,11,842 9,22,135
year
Add: Excess provision written 2,511
back
Available for appropriation 12,56,014 23,97,534
Proposed Dividend - 2,45,000
Corporate Dividend Tax - 40,962
Transfer to General Reserve 5,75,000 9,00,000
Amount to be carried forward 6,81,014 12,11,842
to next year
12,56,014 23,97,534
DIVIDEND:
No dividend has been declared by the company since it has made nominal
profit for the current
SUBSIDIARY COMPANY :
The copy of the audited accounts and Directors Report for the company's
subsidiary, Keen Investment & Leasing Limited for the year ended 31st
March, 2012 are annexed. The statement required to be furnished under
section 212 of the Companies Act, 1956 is also attached.
DIRECTORS :
Mr Pavankumar Sanwarmal retires by rotation at the ensuring Annual
General Meeting and being eligible offer himself for re-appointment.
DIRECTOR RESPONSIBILITY STATEMENT
Pursuant to section 217(2AA) of the Companies Act, 1956 the
Directors confirm that:
1. In presentation of the annual accounts, the applicable standards
had been followed along with proper explanation relation to material
departures;
2. The Directors had 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 your Company at the end of the financial year and of the profit of
your Company for that period;
3. 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 your Company and
for preventing and detection fraud and other irregularities;
4. The Directors had prepared the annual accounts on a going concern
basis.
CONSOLIDATED FINANCIAL STATEMENTS :
The with the requirements of the Accounting Standard AS - 21
prescribed by of Chartered Accountants of India, the
consolidated Financial Statements of the Company and its subsidiary,
Keen Investment & Leasing Limited are annexed to this report.
AUDITORS
A.K. NEVATIA & ASSOCIATES, Chartered Accountants, retiring Auditors is
eligible for re- nppointment and offers them for reappointment at the
ensuing annual general meeting of the company.
PARTICULARS OF EMPLOYEES
None of the employee of the company received remuneration in excess of
the limit specified u/s 217 (2A) of the Companies Act, 1956 COMPLIANCE
CERTIFICATE:
A compliance certificate from a Company Secretary in wholetime
practice, as required under lion 383A of the Companies Act, 1956,
regarding compliance with the provisions '
DISCLOSURE OF PARTICULARS WITH RESPECT OF CONSERVATION OF ENERGY
details as required by Companies (Disclosure of particulars in Report
of Board of Directors) RultS, 1988 for conservation of Energy,
Technology Absorption and Foreign Exchange earnings and outgo are not
applicable to the Company having regard to the nature of business of
the
APPRECIATION
Wo wish to place on record our deep and sincere appreciation for the
contribution made by the workers, staff and executives to the
performance of the Company.
BY ORDER OF THE BOARD OF DIRECTORS
Plice : MUMBAI (pavankumar sanwarmaurita
pavankumar/vikas pavankumar)
DATE: 26/05/2012 DIRECTORS
Mar 31, 2011
The Members,
The Directors present the Annual Report together with the Audited
Accounts of the Company for the year ended on 31st March, 2011.
1. FINANCIAL RESULTS : Previous Year
RS. RS.
Profit for the year after
meeting all charges and
expenses but before Provision
for Taxation 14,75,399 12,87,736
Less a Provision for Taxation 14,73,399 12,87,736
Add : Balance brought forward from
Previous Year 9,22,135 7,66,899
Available for appropriation 23,97,534 20,54,633
Proposed Dividend 2,45,000 3,67,500
Corporate Dividend Tax 40,692 -
Transfer to General Reserve 9,00,000 7,65,000
Balance in profit and Loss
Account to be carried
forward to next year 12,11,842 9,22,135
23,97,534 20,54,635
2. DIVIDENDS
The Directors recommend the payment of dividend at Re. 1.00 per Equity
Share amounting to Rs. 2,45,000/- for the year Ended 31st March,,
2011., The Dividend will be paid within 5 days of declaration-
3. SUBSIDIARY COMPANY a
The Copy of the Audited Accounts and Directors' Report for the
Company's wholly owned subsidiary, Keen Investment And Leasing Limited
for the year ended 31st March, 2011 are annexed.. The Statement
required to be furnished under Section 212 of the Companies Act., 1956
is also attached.
4. DIRECTORS :
Mr., Vikas Pavankumar retires by rotation at the ensuing Annual General
Meeting and being eligible offer himself for re-appointment.
5. DIRECTORS' RESPONSIBILITY STATEMENT :
Pursuant to the Section 2.17 (2AA) of the Companies Act;, 1956, the
Directors confirms that in the preparation of the annual accounts, the
applicable accounting standards have been followed,. Appropriate
accounting policies have been selected and applied consistently and
have 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 as
at March 31, 2011. and of the profits of the Company for the year ended
March 31, 2011, Proper and sufficient care has been taken 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 and the annual accounts have been prepared on a 'going
concern' basis,.
6. CONSOLIDATED FINANCIAL. STATEMENTS;
In accordance with the requirements of the Accounting Standard AS-21
prescribed by the Institute of Chartered Accountants of India,, the
Consolidated Financial Statements of the Company and its wholly owned
subsidiary, Keen Investment & Leasing Limited are annexed to this
Report,,
7. AUDITORS ;
In view of Messrs., R., V.. SHAH & CO., Statutory Auditors of the
Company for Financial Year 2010-11, expressing their unwillingness to
be reappointed at the ensuing Annual General Meeting,, the members are
requested to consider the appointment of Messrs, A, K, Nevatia &
Associates., Chartered Accountants,, as the Statutory Auditors of the
Company from the end of the ensuing Annual General Meeting.
8. PARTICULARS OF EMPLOYEES :;
The information required under Section 217 (2A) of the Companies Act.,
1956,, there were no such employees as would be covered by the said
Section.,
9. A Compliance Certificate from a Company Secretary in wholetime
practice,, as required under Section 383A of the Companies Act., 1956
regarding compliance with the provisions of the act is annexed..
10. The Companies (Disclosure of particulars in the Report of the
Board of Directors) Rules., 1988 are not applicable to the Company.,
For and on behalf of the Board
DIRECTORS
Place : Mumhai
Dated : 27th Man 2011
Mar 31, 2010
The Directors present the Annual Report together with the Audited
Accounts of the Company for the year ended on 31st March,, 2010.
1. FINANCIAL RESULTS : Previous Year
Rs. Rs.
Pro-fit for the year after
meeting all charges and
expenses but before Provision
for Taxation 12,87.736 9,76.911
Less : Provision for Taxation - -
Fringe Benefits Tax - 20,000
Taxes-Earlier Years - 6,736
2,87.736 9,50.175
Add : Balance brought forward from
Previous Year 7,66.899 5,21.724
Available for appropriation 20,54.635 14,71.899
Proposed Dividend 3,67.500 2,45.000
Transfer to General Reserve 7.65,000 4,60.000
Balance in Profit and Loss
Account to be carried
forward to next year 9,22.135 7,66.999
20,54.635 14,71.899
2. DIVIDEND;
The Directors recommend the payment of dividend at. Rs à 1.50 per
Equity Share amounting to Rs. 3,67,500/- for the year Ended 31st
March, 2010.
3. SUBSIDIARY COMPANY :
The Copy of the Audited Accounts and Directors Report for the
Companys wholly owned subsidiary. Keen Investment And Leasing Limited
for the year ended 31st March, 2010 are annexed,. The Statement.
required to be furnished under Section 212 of the Companies Act, 1956
is also attached,
4. AUTHORISED SHARE CAPITAL:
Authorised Share capital of the Company was increased from Rs.
25,00,000/- to Rs,2,50,00,000/- during the year,
5. DIRECTORS :
Mrs. Rita Pavankumar retires by rotation at the ensuing Annual General
Meeting and being eligible offer herself for re-appointment,
6. DIRECTORS RESPONSIBILITY STATEMENT :
Pursuant to the Section 217 (2AA) of the Companies Act, 1956, the
Directors confirms that in the preparation of the annual accounts,, the
applicable accounting standards have been followed- Appropriate
accounting policies have been selected and applied consistently and
have 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 as at March 31,, 2010 and of the profits of the Company for the
year ended March 31, 2010. Proper and sufficient care has been taken
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 and the annual accounts have been prepared on a going
concern basis,
7. CONSOLIDATED FINANCIAL STATEMENTS :
In accordance with the requirements of the Accounting Standard AS-21
prescribed by the Institute of Chartered Accountants of India. the
Consolidated Financial Statements of the Company and its wholly owned
subsidiary, Keen Investment &. Leasing Limited are annexed to this
Report.
8. AUDITORS:
Messrs. R. V. SHAH & CO. Chartered Accountants., retire as Auditors of
the Company at the ensuing Annual General Meeting and being eligible
offer themselves for reappointment.
9. PARTICULARS OF EMPLOYEES :
The information reguired under Section 217 (2A) of the Companies Act,
1956,, there were no such employees as would be covered by the said
Section,
10. A Compliance Certificate from a Company Secretary in wholetime
practice., as required under Section 383A of the Companies Act, 1956
regarding compliance with the provisions of the act is annexed.
11. The Companies (Disclosure of particulars; in the Report of the
Board of Directors) Rules, 1988 are not applicable to the Company.
For and on behalf of the Board
DIRECTORS
Place : Mumbai
Dated : 31st May, 2010