Mar 31, 2014
Dear Members,
The Directors have pleasure in presenting the Thirty Second Annual
Report of the Company Together with the Audited Statements of Accounts
for the year ended 31st March, 2014.
For the year For the year
ended ended
31st March, 2014 31st March, 2013
(Rupees) (Rupees)
Gross Income 46,66,203.00 1,53,32,245.00
Profit before Depreciation 31,41,188.00 1,37,55,272.00
Less : Depreciation (Net) 4,50,764.00 6,08,234.00
Profit before Taxation 26,90,424.00 1,31,47,038.00
Less : Provision for Tax
Deferred Tax (40,591.00) (71,833.00)
Current Tax 8,95,766.00 29,13,821.00
Profit after Tax 18,35,249.00 1,03,05,050.00
Less : Prior Period Taxes 2,180.00 1,38,727.00
18,33,069.00 1,01,66,233.00
Balance brought forward 3,99,47,668.00 3,02,18,342.00
Profit available for appropriation 4,17,80,737.00 4,03,84,665.00
APPROPRIATION
Proposed Dividend 3,76,000.00 3,76,000.00
Tax on Proposed Dividend 63,902.00 60,997.00
Balance carried forward to next
year 4,13,40,835.00 3,99,47,668.00
4,17,80,737.00 4,03,84,665.00
Operations :
During the year the review, Your Company earned an income of Rs.
46,66,203/- against Rs.1,53,32,245/- in the previous Year. The Company
earned profit after Tax of Rs. 18,33,069/- as compared to profit after
Tax of Rs. 1,01,66,233/- in the previous Year.
Dividend :
Considering the robust performance during the year and the sound
financial position of the Company, the Board of Directors have
recommended payment of a final dividend of 2% i.e. 0.20 Paisa per
share(on the face value of Rs 10 each) on 18,80,000 Equity Shares, for
the year ended 31st March, 2014, the payment of the final dividend is
subject to the approval of the Members. The dividend will entail an
outflow of Rs.4,39,902/- (including Dividend Tax of Rs. 63,902/-) on
the paid up equity share capital of Rs. 1,88,00,000/-.
ANNEXURE TO DIRECTORS'' REPORT
Corporate Governance Report
1. Company''s Philosophy on Corporate Governance
Corporate Governance is about promoting corporate fairness,
transparency, accountability and integrity of the management, The
Company believes in and practices good Corporate Governance. The
Company''s philosophy is aimed at assisting the top management of the
Company in the efficient conduct of the business and in meeting its
obligation to all its stakeholders.
2. Board of Directors
The Board of Directors comprises of two executive Directors and other
two Independent Directors. During the year ended 31st March 2014, seven
board meetings were held as on 30.05.2013 , 30.07.2013, 30.10.2013,
05.09.2014,30.01.2014, 31.03.2014.
Attendance of each Directors at the Board Meetings & Annual General
Meeting for F.Y 2013-2014 are as under. Also mentioned below are the
number of Companies / Committees where he is a Director / Member (As on
signing date):
No. of Attendance at last
Name of Directors Category of Board AGM held
Directorship Meetings on 28th Sept 2013
Attended
Mr. Jignesh R. Sheth Director 07/07 Yes
Mr. Jayprakash R Sheth Director 07/07 Yes
Mr. Rajiv Kamdar Independent
Director 07/07 Yes
Mr. Kalpesh Doshi Independent
Director 07/07 Yes
3. Audit Committee
Currently the Audit Committee comprises of Mr. Jayprakash R Sheth, Mr.
Kalpesh Doshi & Mr. Rajiv Kamdar. The terms of reference are wide
enough covering the matters specified for Audit Committee under the
Listing Agreement. Four meetings of the Committee were held on
30.07.2013, 30.10.2013, 30-01-2014 & 31.03.2014. All Directors was
present in all the above Audit Committee meetings.
Name of Directors Category of Directorship
Mr. Jayprakash Sheth Director
Mr. Kalpesh Doshi Independent Director
Mr, Rajiv Kamdar Independent Director
4. Remuneration of Directors
The Remuneration of Directors is determined by the Board of Directors.
An amount of Rs. 9,60,000/- was paid to Mr. Jignesh R. Sheth as
directors remuneration for his valuable service to the company for the
F.Y-2013-14.
5. Investors'' / Shareholders'' Grievance Committee
Presently the members of the Committee are Mr. Jignesh R. Sheth -
Chairman & Director along with Mr. Kalpesh Doshi and Mr. Rajiv Kamdar,
who are the independent directors of the companies.
The Committee oversees the performance of share transfer and recommends
measures to improve the shareholders/investors service. The committee
meets from time to time and approves the transfer and transmission of
shares, deletion of names, issue of duplicate share certificates etc
(if any). The Committee facilitates prompt and effective redressal of
investor''s complaints through telephone or E-mails. All the necessary
information is hosted on the company''s website for investor''s
convenience.
Mr. Jainesh Jasani is the Compliance officer and the reporting of the
same is done to the Board of Directors
6. General Body Meeting
The last three Annual General Meetings were held as under:
Financial Date Location Time
Year
2010-2011 28.09.2011 1418,B Wing,14Th Floor, 03.00 p.m
Dalamaal Tower,211
Nariman Point, F P Journal
Marg, Mumbai-400021
2011-2012 29.09.2012 1418,B Wing, 14Th Floor, 03.00 p.m
Dalamaal Tower, 211
Nariman Point, F P Journal
Marg, Mumbai-400021
2012-2013 28.09.2013 1418,B Wing,14Th Floor, 03.00 p.m
Dalamaal Tower, 211
Nariman Point, F P Journal
Marg, Mumbai-400021
7. Disclosures
a) The company pays Director''s Remuneration to Mr. Jignesh R. Sheth
(Executive Director).
b) There were no other transactions of material nature with its
promoters or the Management, their subsidiaries or relatives, etc; that
may have potential conflict with the interest of the Company at large.
c) No penalties or strictures have been passed by Stock Exchange or
SEBI or any other statutory authority during the last three years on
any matter related to the capital markets.
d) Our risk management procedures ensure that the management control
risks through means of a properly defined framework.
e) Our whistle blower policy encourages disclosure in good faith of any
wrongful conduct on a matter of general concern and protects the
whistle blower from any adverse personnel action. The Company''s
personnel have not been denied access to the Audit Committee.
8. Means of Communication
The Board of Directors of the Company takes on record the unaudited
quarterly and half yearly Financial Results in the prescribed form
within the prescribed time limit. The Company submits information about
quarterly, half yearly and annual results etc. to the Stock Exchange
within prescribed time limits.
The Company also publishes its financial results in newspapers as well
as on its own website.
The website where displayed : www.multiplusholdings.com
9. General Shareholder Information
AGM Date, Time and Venue Saturday, 27th September 2014 at
03.00 p.m. at - 1418, B-Wing, 14th
Floor, Dalamal Tower, 211, Nariman
Point, F. P. J. Marg, Mumbai - 400021.
Financial Calendar April to March
Financial Year 2013-2014
Dates of Book Closure 20th September 2014 to 27th September
2014
(Both days inclusive)
First Quarter Results By 30th July, 2013
Second Quarter Results By 30th October, 2013
Third Quarter Results By 30th January, 2014
Fourth Quarter Results By 30th May, 2014
Audited Results for the year On or before 30th September, 2014
ending 31st March 2014
Listing on Stock Exchanges BOMBAY STOCK EXCHANGE
Stock Code 505594
Demat ISIN Number for
NSDL & CDSL INE 886E01016
Registrars & Transfer Agent Bigshare Services Pvt. Ltd.
E-2 & 3, Ansa Industrial Estate,
Saki-Vihar Road, Sakinaka.
Andheri(E), Mumbai - 400 072
Market Price Data: There was no trading of shares during
the year.
12. Dematerialization of Shares
As on 31.03.2014, 18,56,050 (98.726%) shares of the Company''s Share
Capital had been dematerialized.
13. Address for Correspondence
Shareholder Correspondence should be addressed to - Bigshare Services
Pvt. Ltd. E-2 & 3, Ansa Industrial Estate, Saki-Vihar Road, Sakinaka.
Andheri(E), Mumbai - 400 072
Investors may also write to or contact at the Registered Office for any
assistance that they may need.
Shareholders holding shares in dematerialized form should address all
their correspondence (Including change of address, nominations, ECS
mandates, bank details to be incorporated) to their Depository
Participant.
14. Outstanding GDRs/ADRs/Warrrants or any convertible instruments:
The Company has not issued any GDRs/ADRs/Warrants or any convertible
instruments.
B. NON-MANDATORY REQUIREMENTS
The other suggestions have not yet been adopted.
ANNUAL DECLARATION BY CHIEF EXECUTIVE OFFICER (CEO) PURSUANT TO CLAUSE
49 (i) (d) (ii) OF THE LISTING AGREEMENT
As the Chief Executive Officer of Multiplus Holdings Limited and as
required by Clause 49 (i) (d) (ii) of the Listing Agreement, I hereby
declare that all the Board Members and the Senior Management personnel
of the Company have affirmed Compliance with the Company''s Code of
Business Conduct and Ethics, for the Financial Year 2013-2014
Sd/-
Mr. JIGNESH R. SHETH
Managing Director
Dm : 00290211
Director''s Responsibility Statement:
In compliance with Section 217(2AA) of the Companies Act, 1956, as
amended by the Companies (Amendment) Act, 2000, your Directors confirm:
1. That the applicable Accounting Standards have been followed in the
preparation of Annual Accounts along with proper explanations relating
to material departures, if any.
2. That the accounting policies have been selected and applied
consistently and such judgments and estimates made are reasonable and
prudent so as to give a true and fair view of the state of affairs of
the Company as on 31st March, 2014 and the Profit & Loss Account for
the year ended on that date.
3. That proper and sufficient care has been taken for 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.
4. That the Annual Accounts have been prepared on a going concern
basis.
Foreign Exchange Earnings and Outgo :
Your Company does not undertake any activities involving Foreign
currency Earnings and Outgo .
Directors :
SHRI JAYPRAKASH R. SHETH , Director of the Company retires by rotation
and being eligible offers himself for reappointment None of the
Directors of the Company are disqualified for being appointed as
Directors in terms of Section 274 (l)(g) of the Companies Act, 1956.
Auditors:
M/s. Hardik Parasia & Associates, Auditors of the Company retire at the
conclusion of ensuing Annual General Meeting and are eligible, offer
themselves, for reappointment.
The Company has also received a letter from them to the effect that
their appointment, if made would be within the prescribed limits under
Section 224(1B) of the Companies Act, 1956 and that they are not
disqualified for such appointment within the meaning of Section 226 of
the said Act.
The notes referred to by the Auditors in their report are
self-explanatory and hence, do not require any further explanation.
Acknowledgement:
Your Directors wish to place on record their grateful thanks to the
Banks, various Government Authorities and the Promoters for their
valuable assistance and cooperation and for the trust and confidence
posed in the Company by the Shareholders.
For and on behalf of Board
JIGNESH R. SHETH
Managing Director
Dm no:00290211
Place: Mumbai
Date : 30th May, 2014
Mar 31, 2010
The Directors have pleasure in presenting the Twenty Eighth Annual
Report of the Company Together with the Audited Statements of Accounts
for the year ended 31st March, 2010.
For the year For the year
ended ended
31st March, 2010 31st March, 2009
(Rupees) (Rupees)
Gross Income 44,74,432.21 1,33,28,072.26
Profit before
Depreciation 40,39,162.77 1,26,82,839.94
Less : Depreciation
(Net) NIL NIL
Profit before
Taxation 40,39,162.77 1,26,82,839.94
Less : Provision for
Tax 6,47,891.00 1470409.00
Deferred Tax NIL NIL
Current Tax 6,47,891.00 14,70,409.00
Fringe Benefit
Tax NIL NIL
Profit after
Tax 33,91,271.77 1,12,12,430.94
Less : Prior Period
Taxes 0.00 0.00
33,91,271.77 1,12,12,430.94
Balance brought
forward 1,20,32,170.58 11,88,273.64
Profit available
forappropriation 1,54,23,442.35 1,24,00,704.58
APPROPRIATION
Proposed Dividend 3,76,000.00 3,15,000.00
Tax on Proposed
Dividend 63,902.00 53,534.00
Balance carried forward to next
year 1,49,83,540.35 1,20,32,170.58
1,54,23,442.35 1,24,00,704.58
Operations :
During the year the review, Your Company earned an income of Rs.
44,74,432.21 against Rs. 1,33,28,072.26 in the à previous Year. The
Company earned profit after Tax of Rs. 33,91,271.77 as compared to
profit after Tax of Rs. 1,12,12,430.94 in the previous Year.
Dividend :
The Board of Directors have recommended payment of a dividend of 2%
i.e. 0.20 Paise per share on 18,80,000 Equity Share of Rs. 10/- each,
for the year ended 31st March, 2010, for approval of the Members. The
dividend will entail an outflow of Rs. 4,39,902/- (including Dividend
Tax of Rs. 63,902/-) on the paid up equity share capital of Rs.
1,88,00,000/-.
Increase in Share Capital:
During the year the Company issued 12,50,000 equity Shares of Rs. 10/-
each at premium of Rs. 50/- per Share aggregating the Rs. 7,50,00,000
on preferential allotment basis. Consequently, the outstanding, issued,
subscribed and paid-up equity share capital of the Company increased
from 6,30,000 Shares to 18,80,000 Shares of Rs. 10/- each as of March
31, 2010.
Directors Responsibility Statement:
In compliance with Section 217(2AA) of the Companies Act, 1956, as
amended by the Companies (Amendment) Act, 2000, your Directors confirm:
1. That the applicable Accounting Standards have been followed in the
preparation of Annual Accounts along with proper explanations relating
to material departures, if any.
2. That the accounting policies have been selected and applied
consistently and such judgments and estimates made are reasonable and
prudent so as to give a true and fair view of the state of affairs of
the Company as on 31st March, 2010 and the Profit & Loss Account for
the year ended on that date.
3. That proper and sufficient care has been taken for 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.
4. That the Annual Accounts have been prepared on a going concern
basis.
Foreign Exchange Earnings and Outgo :
Your Company does not undertake any activities involving Foreign
currency Earnings and Outgo .
Directors :
SHRI JAYPRAKASH R. SHETH , Director of the Company retires by rotation
and being eligible offers himself for / reappointment.
None of the Directors of the Company are disqualified for being
appointed as Directors in terms of Section 274 (l)(g) of the Companies
Act, 1956.
Auditors :
M/s. Rajesh Thakkar & Associates, Auditors of the Company retire at the
conclusion of ensuing Annual General Meeting and are eligible, offer
themselves, for reappointment.
The Company has received letter from them to the effect that their
re-appointment, if made would be within the prescribed limits under
Section 224(1B) of the Companies Act, 1956 and that they are not
disqualified for such re- appointment within the meaning of Section 226
of the said Act.
The notes referred to by the Auditors in their report are
self-explanatory and hence, do not require any further explanation.
Acknowledgement:
Your Directors wish to place on record their grateful thanks to the
Banks, various- Government Authorities and the Promoters for their
valuable assistance and cooperation and for the trust and confidence
posed in the Company by / the Shareholders.
For and on behalf of Board
JIGNESH R SHETH
DIRECTOR
Place : Mumbai
Date :20th June, 2010
Mar 31, 2002
The Directors have pleasure in presenting before you the 20th Annual
Report of the Company together with the audited Statement of Accounts
for the period ended 31st March, 2002.
ACCOUNTS
During the year, Company has made Profit of Rs. 18,998.00
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to provisions of Section 217(2AA) of the Companies (Amendment)
Act, 2000, the Directors confirm :
a) That in the preparation of annual accounts, the applicable
accounting standards had been followed along with proper explanation
relating to material departures if any.
b) That the Directors had selected such accounting policies and applied
them consistently and made judgments and estimates that are reasonable
and prudent so an to give a true and fair view of the state of affairs
of the Company as at the end of the financial year and of the profit or
loss of the Company for that period.
c) That 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 so as to prevent and delect fraud
and other irregularities; and
d) That the Directors had prepared the annual accounts on a going
concern basis.
AUDITORS
The Present Auditor M/S. KETAN RUPANI & CO., Chartered Accountants
holds the office as an Auditor until the conclusion of the Annual
General Meeting and being eligible offer himself for reappointment.
DIVIDEND
No Dividend is proposed in the view of the nominal profit earned during
the year.
ON BEHALF OF THE BOARD OF DIRECTORS
(DHIRAJLAL K. SHAH) (SUKETU D SHAH)
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