Mar 31, 2015
The Directors are pleased to present the 7th Directors' Report of your
Company together with Audited Statement of Accounts and the Auditors'
Report of your Company for the financial year ended 31st March 2015.
FINANCIAL SUMMARY OR HIGHLIGHTS/PERFORMANCE OF THE COMPANY
The highlights of financial results of your Company are as follows:
Particulars For the Financial
year ended as For the Financial
ended as years
on 31st March, 2015 on 31st March, 2014
Income 18,525,473 13,281,216
Less:
Expenditure (17,907,473) (12,872,074)
Profit/(Loss) before
taxation 618,000 409,142
Less: Tax (178200) (138712)
Net profit/ (Loss)
after taxation 439,800 270,430
During the year under review, the Company's income is Rs. 18,525,473 as
against income of Rs. 13,281,216 in 2013-14. The net profit after tax
during the year has been Rs. 439,800 as against the net profit of Rs.
270,430 in the previous year. The raise in income/profits was due to
the increase in interest income.
STATE OF COMPANY AFFAIRS:
During the year under review, there is no adverse action against the
business operations of the Company
CHANGE IN THE NATURE OF BUSINESS
During the year, the Company has not changed its nature of business.
MATERIAL CHANGES AND COMMITMENTS, IF ANY, AFFECTING THE FINANCIAL
POSITION OF THE COMPANY WHICH HAVE OCCURRED BETWEEN THE END OF THE
FINANCIAL YEAR OF THE COMPANY TO WHICH THE FINANCIAL STATEMENTS RELATE
AND THE DATE OF THE REPORT
There have been no material changes and commitments which can affect
the financial position of the Company occurred between the end of the
financial year of the Company and date of this report.
DETAILS IN RESPECT OF ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH
REFERENCE TO THE FINANCIAL STATEMENTS
The Company has a formal system of internal control testing which
examines both the design effectiveness and operational effectiveness to
ensure reliability of financial and operational information and all
statutory / regulatory compliances. The Company has a strong monitoring
and reporting process resulting in financial discipline and
accountability.
DIVIDEND
The Directors have not recommended any dividend for the financial year
2014-15 for growth requirement and expansion of the business.
RESERVES
The Company proposes to transfer an amount of Rs. 815,877 to the
General Reserves.
DEPOSITS
The Company has not accepted deposit from the public falling within the
ambit of Section 73 of the Companies Act, 2013 and The Companies
(Acceptance of Deposits) Rules, 2014.
NAME OF THE COMPANIES WHICH HAVE BEEN BECOME OR CEASED TO BE ITS
SUBSIDIARIES AND ASSOCIATE COMPANIES DURING THE YEAR
During the Financial Year 2014-15, No Company had became or ceased to
be its Subsidiaries and associate companies.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
As required under Clause 42 of the Listing Agreement with the Stock
Exchanges, the Management Discussion and Analysis is annexed to
Directors' Report.
RISK MANAGEMENT
The Company has laid down the procedures to inform to the Board about
the risk assessment and minimization procedures and the Board has
formulated Risk management policy to ensure that the Board, its Audit
Committee and its Executive Management should collectively identify the
risks impacting the Company's business and document their process of
risk identification, risk minimization, risk optimization as a part of
a risk management policy/ strategy.
The common risks inter alia are: Regulations, Credit Risk, Foreign
Exchange and Interest Risk, Competition, Business Risk, Technology
Obsolescence, Investments, Retention of Talent and Expansion of
Facilities etc. Business risk, inter-alia, further includes financial
risk, political risk, legal risk, etc. The Board reviews the risk
trend, exposure and potential impact analysis and prepares risk
mitigation plans, if necessary.
PARTICULARS OF EMPLOYEES AND OTHER DISCLOSURE
The prescribed particulars of Employees required under Section 197(12)
of the Companies Act, 2013 read with Rule 5(1) of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014 is
annexed herewith as Annexure to this Report.
The information required pursuant to Section 197(12) read with Rule
5(2) of the Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014 in respect of Employees of the Company, will be
provided on request. In terms of Section 136 of the Act, the reports
and accounts are being sent to the members and others entitled thereto,
excluding the information on employees particulars mentioned in rule
5(2) of the said rule which is available for inspection by the Members
at the Registered Office of the Company during the business hours on
working days of the Company upto the date of ensuing Annual General
Meeting. If any Member is interest in inspecting the same, such Member
may write to the Company in advance.
STATUTORY AUDITORS
During the year under review, the Board of Directors in its meeting
held on 24th January, 2015 appointed M/s. Gaurav Varshney & Co.,
Chartered Accountants as the statutory auditor of the Company for the
Financial year 2014-15.
M/s. Gaurav Varshney & Co., Chartered Accountants have expressed their
willingness to continue for a term of 5 consecutive years from the
conclusion of the ensuing Annual General Meeting till conclusion of
12th AGM subject to ratification by shareholders at every Annual
General Meeting.
The Company has received a letter from them to the effect that their
appointment if made, would be within the limits as prescribed under Sec
141 of the Companies Act, 2013. Therefore, the directors recommend
their appointment in the ensuing Annual General Meeting.
AUDITORS' REPORT
The Notes on Financial Statements referred to in the Auditors' Report
are self-explanatory and therefore, in the opinion of the Directors, do
not call for further comments.
CORPORATE GOVERNANCE CERTIFICATE
A report on Corporate Governance along with a certificate from the
Auditors regarding the compliances with conditions of Corporate
Governance in terms of Clause 42 of the Listing Agreement is annexed to
this report.
EXTRACT OF THE ANNUAL RETURN
The extract of the annual return in form no. MGT - 9 has been annexed
to the Report as Annexure.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO
The particulars as required under the provisions of Section 314(3)(m)
of the Companies Act, 2013 read with Rule 8(3) of The Companies
(Accounts) Rules, 2014 in respect of Conservation of Energy and
Technology Absorption have not been furnished considering the nature of
activities undertaken by the Company during the year under review.
There was no foreign exchange & outgo during the financial year under
review.
CORPORATE SOCIAL RESPONSIBILITY (CSR)
During the year under review, the Company is not required to comply
with the provisions related to Corporate Social Responsibility on the
basis of its financial statement.
DIRECTORS:
A) CHANGES IN DIRECTORS AND KEY MANAGERIAL PERSONNEL
During the year under review, there is no change in the Directors of
the Company and Ms. Dhiarya Arora, Company Secretary of the Company has
resigned w.e.f 30th October, 2014.
B) DECLARATION BY AN INDEPENDENT DIRECTOR(S) AND RE- APPOINTMENT, IF
ANY
All Independent Directors have given declaration that they meet the
criteria of independence as laid down under Section 149(6) of the
Companies Act, and Listing Agreement.
C) FORMAL ANNUAL EVALUATION
Pursuant to the provisions of the Companies Act, 2013, 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 various Committees. A separate exercise was carried out to evaluate
the performance of individual Directors including the Chairman of the
Board, who were evaluated on parameters such as level of engagement and
contribution, independence of judgment, safeguarding the interest of
the Company and its minority shareholders etc. The performance
evaluation of the Independent Directors was carried out by the entire
Board excluding the Directors being evaluated.
NUMBER OF MEETINGS OF THE BOARD OF DIRECTORS
During the year Nine Board Meetings were convened and held. The details
of which have been given in the Corporate Governance Report. The
intervening gap between the Meetings was within the period prescribed
under the Companies Act, 2013.
FAMILIARIZATION PROGRAMME
The Company at its various meetings held during the Financial year 2014
-15 had familiarize the Independent Directors with regard to the roles,
rights, responsibilities in the Company, nature of the industry in
which the Company operates, the Business models of the Company etc. The
Independent Directors have been provided with necessary documents,
reports and internal policies to familiarize then with the Company's
policies, procedures and practices.
Periodic presentations are made to the Board and Board Committee
meeting on Business and performance updates of the Company, Business
strategy and risks involved.
Quarterly updates on relevant statutory changes and judicial
pronouncements and encompassing important amendments are briefed to the
Directors.
COMPOSITION AND MEETING OF AUDIT COMMITTEE
The details about Composition and meeting of Audit Committee have been
given in the Corporate Governance report.
COMPOSITION AND MEETING OF NOMINATION AND REMUNERATION COMMITTEE
The details about Composition and meeting of Nomination and
Remuneration Committee have been given in the Corporate Governance
report.
COMPOSITION AND MEETING OF STAKEHOLDERS RELATIONSHIP COMMITTEE
The details about Composition and meeting of Stakeholders Relationship
Committee have been given in the Corporate Governance report.
AUDITORS' REPORT
The Notes on Financial Statements referred to in the Auditors' Report
are self-explanatory and therefore, in the opinion of the Directors, do
not call for further comments.
VIGIL MECHANISM / WHISTLE BLOWER POLICY
As per the provision of Section 177 (9) of the Companies Act, 2013, the
Company is required to establish an effective Vigil Mechanism for
Directors and Employees to report genuine concerns. In line with this
the Company has framed a Vigil Mechanism Policy through which the
Directors and Employees may report concerns about unethical behavior,
actual or suspected fraud or violation of the Company's Code of Conduct
& Ethics without fear of reprisal. The Employees and Directors may
report to the Compliance Officer and have direct access to the Chairman
of the Audit Committee. The Whistle Blower Policy is placed on the
website of the Company.
DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMAN AT WORKPLACE
(PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013
The Company has in place an Anti Sexual Harassment Policy in line with
the requirements of the Sexual Harassment of Woman at Workplace
(Prevention, Prohibition and Redressal) Act, 2013. All women employees
(permanent, contractual, temporary and trainee) are covered under this
Policy.
The following is a summary of Sexual Harassment complaints received and
disposed off during the year:
a. No. of Complaints received: 0
b. No. of Complaints disposed off: 0
PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186
During the year under review the Company, the Company has not provided
any Loans, Guarantees and Investments covered under the provisions of
Section 186 of the Companies Act, 2013.
PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:
The Company had not entered into any contracts or arrangements with the
related parties as referred to in sub- section (1) of section 188 of
the Companies Act, 2013 during the Financial Year 2014-15.
MANAGERIAL REMUNERATION:
Provisions relating to Managerial Remuneration as per Section 197 read
with Rule 5 of The Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014 The Board have on the recommendation
of the Nomination & Remuneration Committee framed a Policy for
Selection and appointment of Directors, Senior management and their
Remuneration.
CODE OF CONDUCT:
The Company has formulated and implemented a Code of Conduct for
Directors and Senior Management of the Company. Requisite annual
affirmations of compliance with the Code have been made by the
Directors and Senior Management of the Company. A declaration signed to
this effect by Mr. Krishan Kant Bharti, Whole Time Director has been
given in the Annual Report. The Code of Conduct is posted on the
Company's website www.madhubancon.com.
SECRETARIAL AUDIT REPORT AND EXPLANATION TO THE REPORT
Ms. Urvashi Aggarwal & Co., Practicing Company Secretary was appointed
to conduct Secretarial Audit of the Company for the Financial Year
2014-15 as required under section 204 of the Companies Act, 2013 and
the rules there under. The Secretarial Audit report for the financial
year 2014-15 forms part of the annual report to the Boards Report.
Management Reply to the Qualification
Appropriate steps are being taken to comply with the incidence.
DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR
COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY'S
OPERATIONS IN FUTURE
No significant and material orders have been passed by the regulators
or courts or tribunals, impacting the going concern status and
company's operations in future.
DIRECTORS' RESPONSIBILITY STATEMENT
The Directors' Responsibility Statement referred to in clause (c) of
sub-section (3) of Section 134 of the Companies Act, 2013, shall state
that -
(a) In the preparation of the annual accounts, the applicable
accounting standards had been followed along with proper explanation
relating to material departures;
(b) 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 the company at the end of the financial year and of the profit and
loss of the company for that period;
(c) 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;
(d) The directors had prepared the annual accounts on a going concern
basis; and
(e) The directors, in the case of a listed company, had laid down
internal financial controls to be followed by the company and that such
internal financial controls are adequate and were operating
effectively.
(f) The directors had devised proper systems to ensure compliance with
the provisions of all applicable laws and that such systems were
adequate and operating effectively.
HUMAN RESOURCES INDUSTRIAL RELATIONS
The takes pride in the commitment, competence and dedication shown by
its employees in all areas of Business.
The Company is committed to nurturing, enhancing and retaining top
talent through superior Learning and Organizational Development. This
is a critical pillar to support the Organization's growth and its
sustainability in the long run.
Acknowledgements
Your Directors place on record their gratitude for the continuing
support of Shareholders, employees, bankers and Business associates at
all levels.
For and on behalf of board of
Madhuban Constructions Limited
Dated: 24/08/2015
Place: New Delhi
Sd/- Sd/-
Krishna Kant Bharti Geeta Bharti
Whole Time Director Director
DIN No: 03466142 DIN No.: 06797301
Mar 31, 2014
Dear Members,
The Directors have great pleasure in presenting the 6th Annual Report
together with the Audited Accounts of the Company for the year ended at
31st March, 2014.
FINANCIAL RESULTS
The summarized performance of the Company for the years 2013-14 and
2012-13 is given below:
(Rupees in Lacs)
Particulars For Financial Year Ended
31st March, 2014 31st March, 2013
Total Income 13281216 5590410.00
Total Expenditure 12872074 5473979.79
Profit before Tax 409142 116430.21
Less: Tax Expense 138712 26643.00
Profit / (Loss) After Tax 270430 89787.21
DIRECTORS
Mr. Subhash Chander and Mr. Dharmendra who were co-opted as Additional
Director on the board of the company with effect from 24th January,
2014, 3rd February, 2014 respectively and who ceases to hold the office
at this Annual General Meeting and in respect of whom a notice under
section 160 of the Companies Act, 2013 has been received from a member
along with requisite deposit proposing his candidature for the office
of a Director on the Board of the Company, be and is hereby appointed
as a director on the Board.
Also, Mr. Krishna Kant Bharti was appointed as an additional director
by the Board of Directors in its meeting held on 15th January, 2014 and
the Company has received notices under Section 160 of the Companies
Act, 2013 proposing their candidature of for the office of the
Director.
Mrs. Geeta Bharti who were co-opted as Additional Director on the board
of the company with effect from 28th January, 2014 and who ceases to
hold the office at this Annual General Meeting and in respect of whom a
notice under section 160 of the Companies Act, 2013 has been received
from a member along with requisite deposit proposing his candidature
for the office of a Director on the Board of the Company, be and is
hereby appointed as a director on the Board, liable to retire by
rotation.
INDEPENDENT DIRECTOR
Pursuant to Section 149 of the Companies Act, 20i3(new act) read with
the Rules made thereunder, the Independent Directors shall hold office
for a period of upto 5 consecutive years and shall not be liable to
retire by rotation. They may be appointed for a maximum of two
consecutive terms of upto 5 years each. In terms of Presently, Mr.
Subhash Chander and Mr. Dharmendra are the Independent Directors of the
Company. As per their existing terms of appointment, all of them are
liable to retire by rotation. However, under the new act and the
Listing Agreement, they may be appointed afresh with a fixed period of
upto 5 years.
The Board considered the independence of each of the above mentioned
Directors in terms of Section 149 and Schedule IV to the Companies Act,
2013 and the Listing Agreement and was of the view that the proposed
directors fulfill the criteria of independence as mentioned in the
above provisions and can be appointed in the above provisions and can
be appointed as Independent Directors. All the proposed Directors
possess requisite qualifications, appropriate skills, experience and
knowledge in one or more fields of finance, law management, marketing,
administration, technical operations and other disciplines related to
Companys business, positive attributes, already being on the Board of
the Company and benefits that the Company will derive with their
appointment, the Board has recommended their appointment as Independent
Directors of the Company to hold office for a term of five consecutive
years commencing from the date of Annual General Meeting of the
Company.
FINANCIAL PERFORMANCE
During the year under review, Your Company has recorded a total income
of Rs. 13281216 against profit of Rs. 89787 in the previous year.
DIVIDEND
In consideration of future prospects of the Company, Your Board of
Directors has decided to plough back the profits into the business
operations of the Company.
PUBLIC DEPOSIT
The Company has not accepted any deposits during the year under review.
AUDITORS
The Auditors M/s. Kakkar Bahl & Associates, Chartered Accountants,
retire at the conclusion of the ensuing Annual General Meeting and
being eligible offer themselves for re-appointment.
The Company has received undertaking from them to the effect that their
appointment, if made, would be in accordance with the Act and that they
are not disqualified for such re-appointment.
A Board of directors of the company has recommended their appointment
in the ensuing Annual General Meeting.
ISSUE OF EQUITY SHARES
During the year under review, the Company has issued and allotted
1054500, 491500, 1390500, 1065000, 3924000 and 1328500 equity shares of
Rs, 10/- each on 07.02.2014, 09.02.2014, 13.02.2014,15.02.2014,
17.02.2014 and 19.02.2014 respectively and accordingly, the Equity Paid
up Share capital stand increased to Rs. 120640000/- (Rupees Twelve
Crore six lac fourty thousand only) consisting 12064000 equity shares
of Rs. 10/- each.
AUDITOR''S REPORT
The observation made in the Auditors'' Report read together with
relevant notes thereon are self explanatory and hence, do not call for
any further comments under Section 217 of the Companies Act, 1956.
INDUSTRIAL RELATIONS
During the year under review, your Company enjoyed cordial relationship
with workers and employees at all levels. CONVERSION OF THE COMPANY
FROM "PRIVATE LIMITED" TO "PUBLIC LIMITED"
During the year 2013-2014, Out Company was converted in to a Public
Limited Company and Consequently the name was changed to " Madhuban
Constructions Private Limited" to "Madhuban Constructions Limited" vide
fresh certificate of incorporation dated 22nd January, 2014, issued by
the Registrar of Companies, National Capital
Territory of Delhi & Haryana.
LISTING OF SHARES OF THE COMPANY
During the year under review, Your Company has applied for listing of
its equity shares on the ITP platform of BSE Limited and got listed on
BSE limited vide notice dated 24th July, 2014.
SUBSIDARY COMPANIES
The Company does not have any subsidiary.
CONSOLIDATED FINANCIAL STATEMENTS
Since there is no subsidiary of the Company at present, hence no
consolidated financial statements have been prepared.
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to the provisions of Section 217(2AA) of the Companies Act,
1956 the Directors confirm:
a) In the preparation of the annual accounts, the applicable accounting
standards had been followed along with proper explanation relating to
material departures.
b) 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 as at 31st March, 2014 and of the Profit or Loss of the
company for the year under the review.
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, in safeguarding the assets of the Company and
for preventing and detecting fraud and other irregularities.
d) The Directors have prepared the annual accounts on a going concern
basis.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNING
AND OUTGO
The provisions of 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 are not applicable to the Company.
Therefore, the information relating to conservation of energy or
technology absorption etc. is not given. There has been no foreign
exchange earnings and outgo during the year under Report.
PARTICULARS OF EMPLOYEES
The provisions of section 217(2A) of the Companies Act, 1956 are not
applicable as no Employee was in receipt of remuneration to the extent
laid down therein
PERSONNEL
The Management-Employees relations remained very cordial throughout the
year. Your Directors wish to place on record their appreciation of
sincere and devoted services rendered by all the workers and staff at
all levels.
CORPORATE GOVERNANCE AND MANAGEMENT DISCUSSION & ANALYSIS REPORTS
The Corporate Governance and Management Discussion & Analysis Report,
which form an integral part of this Report, are set out as separate
Annexure, together with the Certificate from the auditors of the
Company regarding compliance with the requirements of Corporate
Governance as stipulated in Clause 42 of the Listing Agreement.
ACKNOWLEDGEMENTS
Your Company and its Directors wish to extend their sincerest thanks to
the Members of the Company, Bankers, State Government, Local Bodies,
Customers, Suppliers, Executives, Staff and workers at all levels for
their continuous co- operation and assistance.
By Order of the Board
Madhuban Construction Limited
Sd/-
Date: 25/08/ 2014 Krishna Kant Bharti
Place: New Delhi Chairman
DIN No: 03466142
Mar 31, 2013
The Members
M/S MADHUBAN CONSTRUCTIONS PRIVATE LIMITED
The Board of Directors are pleasure the Annual Report of the Company
for the financial year ended 31st March 2013.
1. FINANCIAL HIGHLIGHTS :
Particulars Current Yr. 31.03.2013 Previous Yr. 31.03.2012
(Rs.) (Rs.)
Total Income/Loss 5,590,410.00 1,217,000.00
Less: Total Expenses 5,473,979.79 1,090,646.94
Profit Before Tax 116,430.21 126,353.06
Profit/Loss after Tax 89,787.21 87,310.06
2. FINANCIAL PERFORMANCE
During the year under review, Your Company has recorded a total income
of Rs. 89787 against profit of Rs. 87310 in the previous year.
3. DEPOSITS:
During the year under review, Your Company has not accepted the
deposits under section 58A of the Companies Act, 1956 and Companies
(Acceptance of deposits) Rules 1975 as amended upto date.
4. AUDITORS
M/s Kakkar Bahl & Associates Chartered Accountants, retire at the
ensuing annual general meeting and being eligible have given their
consent to act as auditors of the company. Members are requested to
consider their re-appointment as the auditors of the company.
4. ENERGY, TECHNOLOGY & FOREIGN EXCHANGE:
Information in accordance with the provision of Section 217 (I) (e) of
the Companies Act, 1956, read with Companies (Disclosure of Particulars
in the Report of Board of Directors) Rules 1988 being not
relevant/significant, are not given. There was no foreign exchange
earning or outgo during the year under review.
5. DIRECTORS RESPONSIBILITY STATEMENTS
Pursuant to section 217 (2AA) of the companies ACT, 1956, it is hereby
confirmed:- (i) That in the preparation of the accounts for the
financial year ended 31st March 2013 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, 2013 on a going concern basis.
ACKNOWLEDGEMENT
The board wishes to express and place on records its gratitude for the
faith reposed in and cooperation extended to the company by the
shareholders of the company. Your directors wish to place on record
their deep sense of appreciation for the devoted and sincere services
of the executives, staff and workers of the company for its success.
By order of the Board of Directors
MADHUBAN CONSTRUCTIONS PRIVATE LIMITED
Place: New Delhi Sd/-
Date: 28/08/2013 C P Bhardwaj
Director Din:01735340
Mar 31, 2012
The Members,
Your Directors have pleasure in presenting the Annual Report of
your company together with the audited accounts, for the year
ended 31st March 2012.
FINANCIAL RESULTS CURRENT YEAR
Profit/(Loss) before Depreciation & Tax : Rs 110443.33/-
Less: Depreciation : Rs 15909.73/-
Profit after Depreciation : Rs. 126353.06/-
Provision for Taxation
- Normal Tax Liability : Rs. 39608.00/-
- Deferred Tax Liability : Rs. (565.00)/-
- FBT
Profit after Tax : Rs 87310.06/-
Balanced Brought Forwards : NIL
Profit (Loss) carried forwards to
Balance Sheet : Rs 87310.06/-
Paid up Share Capital : Rs 2,81,00,000/-
That the company is engaged in Construction Business and trading
of related items, earned total receipts to the tone of
Rs. 12,17,000.00/- in its year of working and we are excepting
growth in the future.
DIVIDEND
Your directors do not recommend any dividend.
FUTURE PROSPECTS
The company will continue to explore new financial products to
increase the Turnover and Profitability of the Company.
PARTICULARS OF EMPLOYEES
During the year under review no employee has been drawing
remuneration exceeding the limits as specified in Section 217(2A)
of the Companies Act, 1956 read with the Companies (Particulars
of Employees) Rules 1975.
CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION
The company is not covered by schedules which require to furnish
details in Form A & B as per the provisions of Section 217(1) (e) of
the Companies Act, 1956 read with the Companies (Disclosure of
Particulars in the reports of Board of Director) Rules, 1988.
PUBLIC DEPOSITS
The company has not accepted any deposit from the deposits from the
public within the meaning of Section 58-A of the Companies Act, 1956
and the rules made there under.
FOREIGN EXCHANGE EARNINGS AND OUTGOES
Disclosures under the provisions of the Companies (Disclosure of
particular in the report of Board of Directors) Rules, 1988 are not
presently applicable to the company except;
Total Foreign Exchange Earnings and Outgo Rs Nil
Foreign Exchange Earnings/Receipts Rs Nil
Foreign Exchange Outgo Rs Nil
DIRECTORS RESPONSILIBITY STATEMENT
AS PER SECTION 217(2AA) OF THE Companies Act, 1956 your director''s
states:
I. That in the preparation of the annual accounts, the applicable
accounting standards had been followed along with proper explanation
relating to material departures;
II. That 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 the company at the end of the financial year and of the
Profit & Loss of the company for the period.
III. 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 the safeguarding the assets of the company
and for preventing and detecting fraud and other irregularities;
IV. That the Directors had prepared the annual accounts on a going
concern basis.
BUYBACK OF SHARES
Since no buyback has taken place during the year, no explanation is
required U/s 77A (4) of the Companies Act, 1956.
DIRECTORS
As per the provision of the Memorandum and Articles of Association of
the company the Directors need not liable to retire by rotation at
every Annual General Meeting.
AUDITORS
M/s Ravi Bhushan & Co., Chartered Accountants, New Delhi, the Auditors
of the company, retire at ensuring Annual General Meeting and being
eligible, offer themselves for re- appointment.
GENERAL
The note forming part of the accounts being self-explanatory, the
comments made by the auditors in their report are not required to be
dealt separately.
ACKNOWLEDGEMENT
The Directors wish to place on records their deep appreciation for the
valuable support received from the Shareholders of the company. For
and on behalf of the Board
By order of the Board
For MADHUBAN CONSTRUCTIONS PRIVATE LIMITED
Sd/-
Chairman
C.P Bahrdwaj
Place: Delhi
Date: 23rd August, 2012
Mar 31, 2011
The Members,
The Directors have pleasure in presenting the Annual Report of your
company together with the audited accounts, for the year ended 31st
March 2012.
FINANCIAL RESULTS CURRENT YEAR
Profit/(Loss) before Depreciation & Tax : Rs (16,543.00)/-
Less: Depreciation : Nil
Profit after Depreciation : Rs (16543.00)/-/-
Provision for Taxation
- Normal Tax Liability : NIL
- Deferred Tax Liability : NIL
- FBT
Profit after Tax : Rs (16543.00)/-
Balanced Brought Forwards : Rs(54,907)./- Profit (Loss) carried
forwards to Balance Sheet : Rs (207928/-) Paid up Share Capital : Rs
100,000/- That the company is engaged in Construction Business and
trading of related items, earned total receipts to the tone of Nil in
its year of working and we are excepting growth in the future.
DIVIDEND
Your directors do not recommend any dividend.
FUTURE PROSPECTS
The company will continue to explore new financial products to increase
the Turnover and Profitability of the Company.
PARTICULARS OF EMPLOYEES
During the year under review no employee has been drawing remuneration
exceeding the limits as specified in Section 217(2A) of the Companies
Act, 1956 read with the Companies (Particulars of Employees) Rules
1975.
CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION
The company is not covered by schedules which require to furnish
details in Form A & B as per the provisions of Section 217(1) (e) of
the Companies Act, 1956 read with theCompanies (Disclosure of
Particulars in the reports of Board of Director) Rules, 1988.
PUBLIC DEPOSITS
The company has not accepted any deposit from the deposits from the
public within the meaning of Section 58-A of the Companies Act, 1956
and the rules made there under.
FOREIGN EXCHANGE EARNINGS AND OUTGOES
Disclosures under the provisions of the Companies (Disclosure of
particular in the report of Board of Directors) Rules, 1988 are not
presently applicable to the company except;
Total Foreign Exchange Earnings and Outgo Rs Nil
Foreign Exchange Earnings/Receipts Rs Nil
Foreign Exchange Outgo Rs Nil
DIRECTORS RESPONSILIBITY STATEMENT
AS PER SECTION 217(2AA) OF THE Companies Act, 1956 your director''s
states:
I. That in the preparation of the annual accounts, the applicable
accounting standards had been followed along with proper explanation
relating to material departures;
II. That 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 the company at the end of the financial year and of the
Profit & Loss of the company for the period.
III. 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 the safeguarding the assets of the company
and for preventing and detecting fraud and other irregularities;
IV. That the Directors had prepared the annual accounts on a going
concern basis.
BUYBACK OF SHARES
Since no buyback has taken place during the year, no explanation is
required U/s 77A (4) of the Companies Act, 1956.
DIRECTORS
As per the provision of the Memorandum and Articles of Association of
the company the Directors need not liable to retire by rotation at
every Annual General Meeting.
AUDITORS
M/s Ravi Bhushan & Co., Chartered Accountants, New Delhi, the Auditors
of the company, retire at ensuring Annual General Meeting and being
eligible, offer themselves for re- appointment.
GENERAL
The note forming part of the accounts being self-explanatory, the
comments made by the auditors in their report are not required to be
dealt separately.
ACKNOWLEDGEMENT
The Directors wish to place on records their deep appreciation for the
valuable support received from the Shareholders of the company. For
and on behalf of the Board
For MADHUBAN CONSTRUCTIONS PRIVATE LIMITED
Sd- Sd-
Chandra Prakash Bhardwaj Jai Kishan
DIRECTOR DIRECTOR
Place: Delhi
Date:23st August, 2011