Mar 31, 2015
Dear Shareholders,
The Directors have pleasure in presenting the 22nd Annual Report
together with the audited statement of Accounts for the year ended 31st
March, 2015.
1. OPERATIONS
The Summarized financial highlights are as under
For the year For the year
ended 31.03.2015 ended 31.03.2014
Income from operation Nil Nil
Other Income 1137869.00 403836.05
1137869.00 403836.05
Total Expenditure 958289.99 84843.01
Operating Profit / (Loss) 179579.01 18993.04
Depreciation Nil Nil
Provision for taxation Nil Nil
Profit / (Loss) after tax 179579.01 18993.04
Balance Carrier Forward
from
Last year (28179536.33) (28198529.37)
Balance Carried to
Balance Sheet (27999957.32) (28179536.33)
2. DEPOSITS
The Company has not accepted any deposits from Public within the
meaning of Provisions of the Companies Act, 2013 and rules made there
under.
3. CAPITAL
During the year the Authorized, Issued, Subscribed and paid-up Capital
remained unchanged at Rs. 6,00,00,000/- and Rs. 5,37,38,000/-
respectively.
4. STATUTORY INFORMATION
I. The Companies ( Directors particulars in the report of Board of
Directors) Rules, 1988 require disclosure of particulars regarding
conservation of energy in Form A and Technology absorption in From B
prescribed by the rules. The company not being an industry under the
Schedule, Form A& B disclosures are not applicable.
II. The Company had no foreign exchange earnings & no outgoing
III. The Company does not have any subsidiary within the meaning of
section 4 of the Companies Act, 1956
5. AUDITORS
Statutory auditors M/s. R. K. Malpani & Associates, retire at the
conclusion of the ensuing Annual General Meeting. The Company proposes
to appoint them for their term of 2 years under Section 139 of the
Companies Act, 2013 i.e. for the financial year 2015-16 to 2016-17
subject to ratification by shareholders at every Annual General Meeting
6. AUDIT COMMITTEE
Pursuant to Section 292Aof the Companies Act, 1956 as introduced by the
Companies (Amendment) Act, 2000, an audit committee was constituted by
the Board of Directors consisting of 3 directors i.e. Shri Baboolal
Swarnkar, Shri Nikhilesh Khandewal and, Shri Vinay Agrawal.
7. AUDITOR'S REPORT
The notes referred to in the Auditors' Report are self-explanatory and
hence, do not call for any comments under Section 134 of the Companies
Act, 2013.
8. DIRECTORS
Shri Baboolal Swarnkar, Director of the Company will retire by rotation
at the ensuing Annual General Meeting and being eligible offer himself
for re-appointment. The Directors commend his re-appointment.
9. DIRECTOR'S RESPONSIBILITY STATEMENT
As required by Section 134 (5) of the Companies Act, 2013, the Board of
Directors of the Company hereby state and confirm that:
(a) in the preparation of the annual accounts, the applicable
accounting standards have been followed;
(b) 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 31st March 2015 and of the profit of the Company
for the year ended 31st March 2015.
(c) proper and sufficient care has been taken 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) the annual accounts have been prepared on a going concern basis.
(e) the Directors had laid down internal financial controls to be
followed by the Company and that such internal financial controls are
adequate and were operating effectively and
(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.
10. PERSONNEL
There were no employees whose remuneration were in excess of the limits
prescribed under section 217(2A) of the Companies Act, 1956 as per the
latest amendment.
11. VIGIL MECHANISM/WHISTLE BLOWER POLICY
The Company has adopted a whistle blower policy, to provide formal
mechanism to the Directors and employees to report their concerns about
unethical behavior, actual or suspected fraud or violation of the
company's code of conduct or ethics policy. It provides for adequate
safeguards against victimization of employees who avail of the
mechanism and provides for direct access to the Chairman of the Audit
Committee.
Whistle blower policy of the company is available on the Company's
website www.rajasthangasesltd.com.
12. SECRETARIAL AUDITORS AND SECRETARIAL AUDIT REPORT
The Board has appointed M/s. Manjula Poddar, Company Secretaries in
whole-time practice, to carry out Secretarial Audit under the
provisions of Section 204 of the Companies Act, 2013 for the financial
year 2014- 2015. The report of the Secretarial Auditors is annexed to
this Report as Annexure-IV.
12. ACKNOWLEDGMENT
The Board takes this opportunity to express its sense of gratitude to
all the Customers, Shareholders, Government Departments, Bankers and
Suppliers of the Company. The Board also wishes to pay tribute to all
the employees of the Company for their splendid commitment and
dedication.
By Order of the Board of Directors
Place: Jaipur BABOOLAL SWARNKAR
Dated: 05th September, 2015 (Chairman)
Mar 31, 2014
Dear Members,
The Directors have pleasure in presenting the 21st Annual Report
together with the audited statement of Accounts for the year ended 31st
March, 2014.
1. OPERATIONS
The Summarized financial highlights are as under
For the year For the year
ended ended
31.03.2014 31.03.2013
Income from operation Nil Nil
Other Income 403836.05 548240.57
403836.05 548240.57
Total Expenditure 384843.01 546751.14
Operating Profit/ (Loss) 18993.04 1489.43
Depreciation Nil Nil
Provision for taxation Nil Nil
Profit / (Loss) after tax 18993.04 1489.43
Balance Carrier Forward from
Last year (28198529.37) (28200018.80)
Balance Carried to Balance Sheet (28179536.33) (28198529.37)
2. DEPOSITS
The Company has not accepted any deposits from Public within the
meaning of section 58-A of the Companies Act, 1956 and rules made there
under.
3. CAPITAL
During the year the Authorized, Issued, Subscribed and paid-up Capital
remained unchanged at Rs. 6,00,00,000/- and Rs. 5,37,38,000/-
respectively.
4. STATUTORY INFORMATION
The Companies ( Directors particulars in the report of Board of
Directors) Rules, 1988 require disclosure of particulars regarding
conservation of energy in Form A and Technology absorption in From B
prescribed by the rules. The company not being an industry under the
Schedule, Form A& B disclosures are not applicable.
II The Company had no foreign exchange earnings & no outgoing
III. The Company does not have any subsidiary within the meaning of
section 4 of the Companies Act, 1956
5. AUDITORS
Statutory auditors M/s. R. K. Malpani & Associates, retire at the
conclusion of the ensuing Annual General Meeting. The Company has
received a letter from M/s. R K. Malpani & Associates, to the effect
that their appointment, if made would be within the limits under
Section 224(1 -B) of the Companies Act, 1956. Accordingly, M/s R. K.
Malpani & Associates, Chartered Accountants will be appointed as
auditors of the Company.
6. AUDIT COMMITTEE
Pursuant to Section 292A of the Companies Act, 1956 as introduced by
the Companies (Amendment) Act, 2000, an audit committee was constituted
by the Board of Directors consisting of 3 directors i.e. Shri Baboolal
Swarnkar, Shri Manoj Danwar, Shri Sunil Verma.
7. AUDITOR''S REPORT
The notes to the Accounts referred to in the Auditors report are self -
explanatory and, therefore, do not call for any further explanation
under section 217(3) of the Companies Act, 1956
8. DIRECTORS
Shri Matadin Sonthalia, Director of the Company will retire by rotation
at the ensuing Annual General Meeting and being eligible offer himself
for re- appointment. The Directors commend his re-appointment.
Smt. Nirmala Sharma resigned as director during the year i.e Dt.
19.07.2013. Board of Directors place on records its appreciating for
valuable services and guidance given by Smt. Nirmala Sharma during her
tenure as a Director of the Company.
9. DIRECTOR''S RESPONSIBILITY STATEMENT
In term of section 217 (2AA) of the Companies Act, 1956 the directors
would like to state that:
i) In the preparation of the annual accounts, the applicable accounting
standards have been followed.
ii) 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 affair
of the Company at the end of the financial year and of the profit or
loss of the Company for the year under review.
iii) The director have 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 have prepared the annual accounts on a going concern
basis.
10. PERSONNEL
There were no employees whose remuneration were in excess of the limits
prescribed under section 217(2A) of the Companies Act, 1956 as per the
latest amendment.
11. FIXED DEPOSIT
The company has neither invited nor accepted nor renewed any fixed
deposit during the year under review.
12. ACKNOWLEDGMENT
The Board takes this opportunity to express its sense of gratitude to
all the Customers, Shareholders, Government Departments, Bankers and
Suppliers of the Company. The Board also wishes to pay tribute to all
the employees of the Company for their splendid commitment and
dedication.
By order of Board of Directors
Place : Jaipur BABOOLAL SWARNKAR
Dated: 05th September, 2014 Chairman
Mar 31, 2013
Dear Shareholders,
The Directors have pleasure in presenting the TWENTH Annual Report
together with the audited statement of Accounts for the year ended 31st
March, 2013.
1. OPERATIONS
The Summarised financial highlights are as under
For the year For the year
ended 31.03.13 ended 31.03.12
Income from operation Nil Nil
Other Income 548240.57 2202476.54
548240.57 2202476.54
Total Expenditure 546751.14 2197598.88
Operating Profit / (Loss) 1489.43 4877.66
Depreciation Nil Nil
Provision for taxation Nil Nil
Profit / (Loss) after tax 1489.43 4877.66
Balance Carrier Forward from
Last year (28200018.80) (28204896.46)
Balance Carried to Balance Sheet (28198529.37) (28200018.80)
2. DEPOSITS
The Company has not accepted any deposits from Public within the
meaning of section 58-A of the Companies Act, 1956 and rules made there
under.
3. CAPITAL
During the year the Authorised, Issued, Subscribed and paid-up Capital
remained unchanged at Rs. 6,00,00,000/- and Rs. 5,37,38,000/-
respectively.
4. STATUTORY INFORMATION
I The Companies ( Directors particulars in the report of Board of
Directors) Rules, 1988 require disclosure of particulars regarding
conservation of energy in Form A and Technology absorption in From B
prescribed by the rules. The company not being an industry under the
Schedule, Form A & B disclosures are not applicable.
II The Company had no foreign exchange earnings & no outgoing
III. The Company does not have any subsidiary within the meaning of
section 4 of the Companies Act, 1956
5. AUDITORS
Statutory auditors M/s. R. K. Malpani & Associates, retire at the
conclusion of the ensuing Annual General Meeting. The Company has
received a letter from M/s. R K. Malpani & Associates, to the effect
that their appointment, if made would be within the limits under
Section 224(1-B) of the Companies Act, 1956. Accordingly, M/s R. K.
Malpani & Associates, Chartered Accountants will be appointed as
auditors of the Company.
6. AUDIT COMMITTEE
Pursuant to Section 292A of the Companies Act, 1956 as introduced by
the Companies (Amendment) Act, 2000, an audit committee was constituted
by the Board of Directors consisting of 3 directors i.e. Shri Baboolal
Swarnkar, Shri Manoj Danwar, Shri Sunil Verma.
7. AUDITOR''S REPORT
The notes to the Accounts referred to in the Auditors report are self -
explanatory and, therefore, do not call for any further explanation
under section 217(3) of the Companies Act, 1956
8. DIRECTORS
Shri Baboo Lai Swarnkar, Director of the Company will retire by
rotation at the ensuing Annual General Meeting and being eligible offer
himself for re-appointment. The Directors commend his re-appointment.
9. DIRECTOR''S RESPONSIBILITY STATEMENT
In term of section 217 (2AA) of the Companies Act, 1956 the directors
would like to state that:
i) In the preparation of the annual accounts, the applicable accounting
standards have been followed. ii) The directors have selected such
accounting polices 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 affair of the Company at the end of the
financial year and of the profit or loss of the Company for the year
under review.
iii) The director have 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 have prepared the annual accounts on a going concern
basis.
10. PERSONNEL
There were no employees whose remuneration were in excess of the limits
prescribed under section 217(2A) of the Companies Act, 1956 as per the
latest amendment.
11. FIXED DEPOSIT
The company has neither invited nor accepted nor renewed any fixed
deposit during the year under review.
12. ACKNOWLEDGMENT
The Board takes this opportunity to express its sense of gratitude to
all the Customers, Shareholders, Government Departments, Bankers and
Suppliers of the Company. The Board also wishes to pay tribute to all
the employees of the Company for their splendid commitment and
dedication.
By Order of the Board of Directors
(BABOOLAL SWARNKAR) (MAJDAN WAR)
Chairman MD & CEO
PLACE: JAIPUR
DATED: 06/09/2013
Mar 31, 2012
Dear Shareholders,
The Directors have pleasure in presenting the NINTEENTH Annual Report
together with the audited statement of Accounts for the year ended 31st
March, 2012.
1. OPERATIONS
The Summarised financial highlights are as under
For the year For the year
ended 31.03.12 ended 31.03.11
Income from operation Nil Nil
Other Income 2202476.54 2651625.60
2202476.54 2651625.60
Total Expenditure 2197598.88 319699.88
Operating Profit / (Loss) 4877.66 2331925.72
Depreciation Nil Nil
Provision for taxation Nil Nil
Profit / (Loss) after tax 4877.66 2331925.72
Balance Carrier Forward from
Last year (28204896.46) (30536822.18)
Balance Carried to Balance Sheet (28200018.80) (28204896.46)
2. DEPOSITS
The Company has not accepted any deposits from Public within the
meaning of section 58-A of the Companies Act, 1956 and rules made there
under.
3. CAPITAL
During the year the Authorised, Issued, Subscribed and paid-up Capital
remained unchanged at Rs. 6,00,00,000/- and Rs. 5,37,38,000/-
respectively.
4. STATUTORY INFORMATION
I. The Companies (Directors particulars in the report of Board of
Directors) Rules, 1988 require disclosure of particulars regarding
conservation of energy in Form A and Technology absorption in From B
prescribed by the rules. The company not being an industry under the
Schedule, Form A & B disclosures are not applicable.
II. The Company had no foreign exchange earnings & no outgoing
III. The Company does not have any subsidiary within the meaning of
section 4 of the Companies Act, 1956
5. AUDITORS
Statutory auditors M/s. R. K. Malpani & Associates, retire at the
conclusion of the ensuing Annual General Meeting. The Company has
received a letter from M/s. R K. Malpani & Associates, to the effect
that their appointment, if made would be within the limits under
Section 224(1-B) of the Companies Act, 1956. Accordingly, M/s R. K.
Malpani & Associates, Chartered Accountants will be appointed as
auditors of the Company.
6. AUDIT COMMITTEE
Pursuant to Section 292A of the Companies Act, 1956 as introduced by
the Companies (Amendment) Act, 2000, an audit committee was constituted
by the Board of Directors consisting of 3 directors i.e. Shri Baboolal
Swarnkar, Shri Manoj Danwar, Shri Sunil Verma.
7. AUDITOR''S REPORT
The notes to the Accounts referred to in the Auditors report are self -
explanatory and, therefore, do not call for any further explanation
under section 217(3) of the Companies Act, 1956
8. DIRECTORS
Shri Baboo Lai Swarnkar, Director of the Company will retire by
rotation at the ensuing Annual General Meeting and being eligible offer
himself for re-appointment. The Directors commend his re-appointment.
9. DIRECTOR''S RESPONSIBILITY STATEMENT
In term of section 217 (2AA) of the Companies Act, 1956 the directors
would like to state that:
i) In the preparation of the annual accounts, the applicable accounting
standards have been followed.
ii) The directors have selected such accounting polices 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 affair
of the Company at the end of the financial year and of the profit or
loss of the Company for the year under review.
iii) The director have 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 have prepared the annual accounts on a going concern
basis.
10. PERSONNEL
There were no employees whose remuneration were in excess of the limits
prescribed under section 217(2A) of the Companies Act, 1956 as per the
latest amendment.
11. FIXED DEPOSIT
The company has neither invited nor accepted nor renewed any fixed
deposit during the year under review.
12. ACKNOWLEDGMENT
The Board takes this opportunity to express its sense of gratitude to
all the Customers, Shareholders, Government Departments, Bankers and
Suppliers of the Company. The Board also wishes to pay tribute to all
the employees of the Company for their splendid commitment and
dedication.
BY ORDER OF THE BOARD
For RAJASTHAN GASES LIMITED
Place : JAIPUR (BABOOLAL SWARNKAR)
DATED: 01/09/2012 Chairman
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