Mar 31, 2015
Dear Members,
The Directors have pleasure in presenting the Twenty First Annual
Report on the business and operations of the Company together with the
Annual Accounts for the Financial Year ended on March 31st, 2015.
FINANCIAL RESULTS
The highlights of the Financial Results are as under:
(Rupees in Lakhs)
Year ended Year ended
PARTICULARS
2014-2015 2013-2014
Sales and Other Income 538.4 304.69
Profit/ (Loss) before Interest and 142.68 86.83
Depreciation
Less: Finance Charges (74.15) (47.52)
Less: Depreciation (21.04) (16.24)
Profit/ (Loss) for the Year 47.49 23.07
Add/(Less): Extraordinary Items (3.76) (1 77)
Add/Less: Tax Adjustment Earlier Years (6.60) -
Less: Provision for Income Tax (12.50) (6.97)
Less: Wealth Tax (0.10) (0.16)
Add/(Less): Deferred Tax/Assets/ Liability) 0.508 0.43
Net Profit/ (Loss) for the Year 25.04 14.6
Add: Balance brought forward 530.18 515.57
Adjustment relating to Fixed Assets 11.31 -
Transferred to General Reserve 5.00 -
Profit/ (Loss) carried to the Balance Sheet 538.90 530.17
OPERATIONS
During the year under review, the Sales and other Income of the Company
increased to Rs.538.4 (lacs) as compared to Rs 304.69 (lacs) in the
previous year. The net profit of the Company increased to Rs.25.04
(lacs) in comparison to Rs.14.61 (lacs) in the previous year. The
Company will continue to be responsive to changes in market dynamics
and consumer behaviour and other key factors influencing the Business,
and will formulate its strategies accordingly.
RESERVES
During the year under review, the Company has transferred Rs.
5,00,000.00 (Rupees Five lacs Only) from the Profits of Current year
2014-2015, to general reserve of the Company & outstanding amount in
the general reserve of the Company increased to Rs.66.18 (in Lacs).
DIVIDEND
During the year, the Company has earned profit and the Directors have
decided to Plough back profits for the expansion of business of the
Company and hence no dividend could be recommended.
DEMATERIALIZATION OF EQUITY SHARES
The Company's equity shares are available for trading in the both
Depository systems that is National Securities Depository Limited
(NSDL) and the Central Depository Services (India) Limited (CDSL). The
International Securities Identification Number (ISIN) allotted by NSDL
and CDSL to RTCL Limited is INE754B01012 for the equity shares of your
Company. The status of Equity Capital exists in Electronic Form and
Physical Form as on March 31st, 2015 is as under:
Particulars Nos. of Shares Percentage
Electronic Mode
CDSL 643882 05.37%
NSDL 8512848 70.93%
9156730 76.3%
Physical Mode 2844440 23.70%
Total: 12001170 100.00%
EXTRACT OF ANNUAL RETURN
Pursuant to the Section 92(3) of the Companies Act, 2013 and rule 12(1)
of the Companies (Management and Administration) Rules, 2014, an
extract of the Annual Return in the Form-MGT-9 is annexed as Annexure I
to the annual report.
BOARD AND COMMITTEE MEETINGS
A calendar of Meetings is prepared and circulated in advance to the
Directors. During the year Twenty Board Meetings and Four Audit
Committee Meetings were duly convened. 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.
The Company has various committees which have been constituted as a
part of the good corporate governance practices and the same are in
compliance with the requirements of the relevant provisions of
applicable laws and statutes.
The Board has constituted an Audit Committee with Mr. Manoj Pandey (DIN
No.00057386) Chairman, Mr. Sunil Tandon (DIN No.02249543), Mr. Ajay
Kumar Jain (DIN No. 00043349), *Ms. Chitranshi Tiwari (DIN No.
07145469) and **Mr. Priyank Jain (DIN No.06491359). There have not been
any instances during the year when recommendations of the Audit
Committee were not accepted by the Board.
The other Committees of the Board are :
i) Nomination and Remuneration Committee
ii) Stakeholders' Relationship Committee
The details with respect to the composition, powers, roles, terms of
reference, Meetings held and attendance of the Directors at such
Meetings of the relevant Committees are given in detail in the Report
on Corporate Governance of the Company which forms part of this Annual
Report.
*Appointed as an Additional Director wef 31.03.2015, who vacates her
office at the conclusion of this AGM, be and is hereby appointed as
Independent Director of the Company.
** Resigned from the office wef 14.07.2015
DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to the requirements under the Companies Act, 2013 with respect
to the Directors' Responsibility Statement, it is hereby confirmed:
(i) That in the preparation of the annual accounts for the financial
year ended on 31st March, 2015, the applicable accounting standards had
been followed and no material departure have been made from the same;
(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 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, 2013 for safeguarding the assets of
the Company and for preventing and detecting fraud and other
irregularities;
(iv) That the Directors have prepared the annual accounts for the
financial year ended on 31st March, 2015, on 'going concern' basis.
(v) 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.
(vi) 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.
DIRECTORS & KEY MANAGERIAL PERSONNEL
I. Mr. Ajay Kumar Jain, (DIN No.00043349), Chairman and the Whole-Time
Director and Mr. Sunil Tandon, (DIN No.02249543) Whole-Time Director of
the Company, will retire by rotation at the ensuing Annual General
Meeting and, being eligible, offer himself for reappointment.
II. Ms. Chitranshi Tiwari, (DIN No.07145469) director of the Company
has been appointed as an Independent Non Executive Additional Director
on 31.03.2015.
III. Mr. Priyank Jain, (06491359), Director of the Company, was
appointed as Independent Non Executive Director in the Company on
10.01.2013 and has resigned from the Office w.e.f. 14.07.2015.
All the Independent Directors have given declarations that they meet
the criteria of independence as laid down under Section149(6) of the
Companies Act 2013 and Clause 49 of the Listing Agreement entered into
with the Stock Exchanges. In the opinion of the Board, they fulfilled
the conditions of independence as specified in the Act and the Rules
made there under and are independent of the management. The declaration
was placed before the board for their review.
POLICY ON DIRECTORS, KMPs & OTHER EMPLOYEES:
The Company has adopted Governance Guidelines on Board's Effectiveness.
The Governance Guidelines cover aspects related to composition and role
of the Board, Chairman and Directors, Board diversity, definition of
Independent Director, Director Term, retirement age and Committees of
the Board. It also covers aspects relating to nomination, appointment,
induction and development of Directors, Director Remuneration,
Subsidiary oversight, Code of Conduct, Board Effectiveness Review and
Mandates of Board Committees.
Policy for Nomination and Remuneration of Directors:
The Nomination and Remuneration Committee is responsible for developing
competency requirements for the Board based on the industry and
strategy of the Company. Board composition analysis reflects in-depth
understanding of the Company, including its strategies, environment,
operations, financial condition and compliance requirements.
The Nomination and Remuneration Committee conducts a gap analysis to
evaluate the performance of the Board on a periodic basis, including
each time a Director's appointment or re-appointment is required or
not. The Committee is also responsible for reviewing and vetting the
CVs of potential candidates vis-a-vis the required competencies and
meeting potential candidates, prior to making recommendations of their
nomination to the Board. At the time of appointment, specific
requirements for the position, including expert knowledge expected, is
communicated to the appointee.
Criteria for Determining Qualifications, Positive Attributes and
Independence of a Director:
The Nomination and Remuneration Committee has formulated the criteria
for determining qualifications, positive attributes and independence of
Directors in terms of provisions of Section 178 (3) of the Companies
Act, 2013 and Clause 49 of the Listing Agreement.
Independence: In accordance with the above criteria, a Director will be
considered as an 'Independent Director' if he/ she meets with the
criteria for 'Independent Director' as laid down in the Companies Act,
2013 and Clause 49 of the Listing Agreement.
Qualifications: A transparent Board nomination process is in place that
encourages diversity of thought, experience, knowledge, perspective,
age and gender. It is also ensured that the Board has an appropriate
blend of functional and industry expertise. While recommending the
appointment of a Director, the Nomination and Remuneration Committee
considers the manner in which the function and domain expertise of the
individual will contribute to the overall skill-domain mix of the
Board.
Positive Attributes: In addition to the duties as prescribed under the
Companies Act, 2013 the Directors on the Board of the Company are also
expected to demonstrate high standards of ethical behaviour, strong
interpersonal and communication skills and soundness of judgment.
Independent Directors are also expected to abide by the 'Code of
Independent Directors', as outlined in Schedule IV of the Companies
Act, 2013.
STATUTORY AUDITORS & AUDIT REPORT
M/s Kumar Piyush & Co.(Firm Registration No.: 005120N), Chartered
Accountants, New Delhi, the Statutory Auditors of the Company, will
retire at the conclusion of ensuing Annual General Meeting and, being
eligible, offer themselves for reappointment for a period of One Year
from the conclusion of this Annual General Meeting till the conclusion
of Twenty Second Annual General Meeting. The Auditors' Report for the
financial year 2014-15 does not contain any qualification, reservation
or adverse remarks.
COST AUDITOR & COST AUDIT REPORT
Pursuant to Section 148 of the Companies Act 2013 the Company is not
required to appoint cost auditor for the Financial Year ended
2014-2015.
As per the Cost Audit Orders, Cost Audit is not applicable on the
Products and Business of the Company for the F.Y. 2014- 2015
SECRETARIAL AUDITOR & SECRETARIAL AUDIT REPORT
Pursuant to the provisions of Section 204 of the Companies Act 2013 and
The Companies (Appointment and Remuneration of Managerial Personnel)
Rules, 2014, the Board of Directors of the Company had appointed M/s.
Sushil Gupta & Associates, Company Secretaries, Kanpur to undertake the
Secretarial Audit of the Company for the year ended on 31st March,
2015. The Secretarial Audit Report is annexed thereto as Annexure IV.
The Secretarial Audit Report for the financial year ended on 31st
March, 2015 does not contain any qualification, reservation, adverse
remark or disclaimer.
INTERNAL CONTROLS SYSTEMS AND ADEQUACY
The Company has appointed, Mr. Sandeep Kumar Saraogi, Chartered
Accountant (ACA-411706) as an Internal Auditor of Company to ensure
compliances and effectiveness of the Internal Control Systems in place
as per the decision taken during the financial year 2014-2015. During
the year, the Company continued to implement his suggestions and
recommendations to improve the control environment and his scope of work
includes review of processes for safeguarding the assets of the Company,
review of operational efficiency, effectiveness of systems and
processes, and assessing the internal control strengths in all areas.
Internal Auditor findings are discussed with the process owners and
suitable corrective actions taken as per the directions of Audit
Committee on an ongoing basis to improve efficiency in operations.
PARTICULARS OF LOAN, GUARANTEES OR INVESTMENTS
Details of Loans, Guarantees and Investments covered under the
provisions of Section 186 of the Companies Act 2013 are:
Particulars of Loan given for Corporate Needs:
S. No. Name of Party Amount (Rs.)
1 Jai Nest Build Private Limited 30,157.00
2 Lotus Infra Projects Private Limited 5,32,42,585.00
3 Raghunath Holdings and Finlease Private Limited 1,34,018.00
4 Sir Bio Tech India Limited 59,41,407.00
Particulars of Guarantee given for Corporate Needs:
S. No. Name of Party Purpose
1 Sir Bio Tech India Limited Secure the various credit
facilities
2 Shreesri Buildtech Private Limited Facilitating FBWC Limit
S. No. Name of Party Amount (Rs.)
1 Sir Bio Tech India Limited 15.00 Crores
2 Shreesri Buildtech Private Limited 950.00 Lacs
RELATED PARTY TRANSACTIONS
Pursuant to the provisions of the Companies Act, 2013, the Board hereby
confirms that the Company has not entered into any Contract and
Arrangement with the Related Party during the year. The Company has
adopted a Related Party Transactions Policy. The Policy, as approved by
the Board, is uploaded on the Company's website at the web link:
http:// www.rtcllimited.com/images/pdf/RPP.pdf
MATERIAL CHANGES & COMMITMENTS
There have been no 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 Report.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORBTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO
The information required under Section 134 of the Companies Act, 2013
read with Rule 8 of the Companies (Accounts) Rules 2014:
Conservation Of Energy:
The Company's operations involve low energy consumption. There are no
major areas where any energy conservation measure can be taken.
However, efforts are being made to conserve and optimize the use of
energy, wherever possible.
Technology Absorption:
The Company is in Trading and real estate Industry and therefore,
specific technology absorption, adaptations and innovation will be
taken care of/ implemented, wherever required.
Foreign Exchange Earning & Outgo:
(i) Total Foreign Exchange earned: NIL
(ii) Total Foreign Exchange outgo: NIL
Research & Development:
Sr. No. Particulars Status
1. Specific areas in which Research and Development
carried out by the Company. NIL
2. Benefit derived as a result of the above Research
and Development. NIL
3. Future plan of action. NIL
4. Expenditure on Research and development. NIL
RISK MANAGEMENT POLICY
The Company has been addressing various risks impacting the Company and
the policy of the Company on risk management is provided in the Report
of Management Discussion and Analysis Report.
CORPORATE SOCIAL RESPONSIBILITY
The Board of Directors of the Company, hereby confirms that the
Provisions of Section 135(1) of the Companies Act, 2013 are not
applicable on our Company. However, the responsibility of the Company
is to make a positive impact on the communities in which the company
does business through its support of selected programs, outreach
efforts and initiatives that improve and enhance the quality of life.
ANNUAL EVALUATION OF BOARD PERFORMANCE AND PERFORMANCE OF ITS
COMMITTEES AND OF DIRECTORS
Pursuant to the provisions of the Companies Act, 2013 and Clause 49 of
the Listing Agreement, the Board has carried out an annual evaluation
of its own performance, the directors individually as well as the
evaluation of the working of its Audit Committee, Nomination &
Remuneration Committee and other Compliance Committees. The manner in
which the evaluation has been carried out has been explained in the
Corporate Governance Report.
SUBSIDIARY COMPANY/ ASSOCIATE COMPANY.
Pursuant to the Sub-Section (3) of Section 129 of the Companies Act,
2013 during the year under review, the Company has no Subsidiary
Company whereas the Company has following Associate Companies:
S. Name and Address of the CIN/GLN
No. Company
1. Raghunath Builders Pvt. Ltd U70101DL1994PTC062202
2. PJ Softwares Pvt. Ltd U65993UP1995PTC018915
3 Trendy Buildcon Pvt. Ltd U92141DL2005PTC138050
4 Mangalam Infra Projects Pvt. Ltd U74899DL2005PTC143999
S. Name and Address of the Holding/subsidiary/
No. Company Associate
1. Raghunath Builders Pvt. Ltd Associate
2. PJ Softwares Pvt. Ltd Associate
3 Trendy Buildcon Pvt. Ltd Associate
4 Mangalam Infra Projects Pvt. Ltd Associate
S. Name and Address of the % of Applicable
No. Company shares Section
1. Raghunath Builders Pvt. Ltd 31.1 2(6)
2. PJ Softwares Pvt. Ltd 42.3 2(6)
3 Trendy Buildcon Pvt. Ltd 39.52 2(6)
4 Mangalam Infra Projects Pvt. Ltd 44.86 2(6)
The statement containing the salient feature of the Financial Statement
of the Company's subsidiary or subsidiaries, Associate Company or
Companies and Joint Ventures or Ventures given in Form AOC-1.
DEPOSITS
During the Year under review, Our Company has not accepted any deposit
falling within the ambit of Section 73 of the Companies Act, 2013 read
with Companies (Acceptance of Deposits) Rules, 2014.
THE DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS
OR COURTS OR TRIBU- NALS IMPACTING THE GOING CONCERN STATUS AND
COMPANY'S OPERATION IN FUTURE.
In terms of the information required under Section 134 of the Companies
Act, 2013 and Clause 8 of the Companies (Accounts) Rules, 2014 it is to
be noted that there is no significant and material order passed by the
Regulators or Courts or Tribunals impacting the going concern status
and Company's operations in future.
VIGIL MECHANISM AND WHISTLE BLOWER POLICY
Your Company has an effective Vigil Mechanism system which is embedded
in its Code of Conduct. The Code of Conduct of the Company serves as a
guide for daily business interactions, reflecting the Company's
standard for appropriate behaviour and living Corporate Values. The
Code of Conduct applies to all people, including Directors, Officers,
and all employees of the Company. Even the Company vendors and
suppliers are also subject to these requirements as adherence to the
Code is a prerequisite for conducting business with the Company. The
Code of Conduct is available on the Company web link
http://www.rtcllimited.com/wbp.asp to report any genuine concerns about
unethical behaviour, any actual or suspected fraud or violation of
Company's Code of Conduct.
PARTICULARS OF EMPLOYEES
The information required in pursuant to Section 197 of the Companies
Act 2013 read with Rule 5(1) of the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014, are provided in
statement of particulars of employees is annexed as Annexure II of the
Annual Report.
TRANSFER OF AMOUNTS TO INVESTORS EDUCATION AND PROTECTION FUND
The Company did not have any fund lying unpaid or unclaimed for a
period of last seven years. Therefore, no fund are required to be
transferred to Investor Education and Protection Fund (IEPF).
NOMINATION AND REMUNERATION POLICY
The Board of Directors of your Company has, on recommendation of the
Nomination & Remuneration Committee, framed and adopted a policy for
selection and appointment of Directors, Senior Management and their
remuneration. The contents of the policy are stated in the Corporate
Governance Report which are ensuring that:
(a) the level and composition of remuneration is reasonable and
sufficient to attract, retain and motivate directors of the quality
required to run the company successfully;
(b) relationship of remuneration to performance is clear and meet
appropriate performance benchmarks; and
(c) remuneration to directors, key managerial personnel and senior
management involves a balance between fixed and incentive pay
reflecting short and long-term performance objective appropriate to the
working of the company and its goals.
CORPORATE GOVERNANCE
The Company has successfully implemented the mandatory provisions of
Corporate Governance in accordance with the provisions of Clause 49 of
the Listing Agreement of the Stock Exchanges. Separate Reports on
Corporate Governance and Management Discussion & Analysis as Annexure
III are included in the Annual Report and Certificate dated 02nd
September, 2015, of the Secretarial Auditors of your Company confirming
the compliance of conditions of Corporate Governance is also annexed
thereto.
FAMILIARIZATION PROGRAM
Your Company, for many years now, has been familiarizing the
Independent Directors on its Board with detailed presentations by its
business functional heads on the Company operations, strategic business
plans, new products and technologies, including significant aspects of
the Industry and its future outlook. Details of familiarization
programs extended to the Non- executive & Independent Directors during
the year are also disclosed on the Company website at the Web Link
http://www. rtcllimited.com/imaaes/pdf/FP.pdf.
MANAGEMENT DISCUSSION AND ANALYSIS
As required by Clause 49 of the Listing Agreement of Stock Exchange,
the Management Discussion and Analysis Report is enclosed as Annexure
to the annual report.
OBLIGATION OF COMPANY UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORK
PLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013
The Company has zero tolerance for sexual harassment at workplace and
has adopted a Policy on Prevention, Prohibition and Redressal of Sexual
Harassment at the Workplace, in line with the provisions of the Sexual
Harassment of Women at Workplace Prevention, Prohibition and Redressal)
Act, 2013 and the Rules made there under. The Policy aims to provide
protection to employees at the workplace and prevent and redress
complaints of sexual harassment and for matters connected or incidental
thereto, with the objective of providing a safe working environment,
where employees feel secure. The Company has also constituted an
Internal Complaints Committee, known as the Prevention of Sexual
Harassment (POSH) Committee, to inquire into complaints of sexual
harassment and recommend appropriate action.
LISTING WITH STOCK EXCHANGE:
Presently the Equity shares of the Company are traded in T Group at the
Bombay Stock Exchange. Earlier, the equity shares of our Company were
also listed on U.P. Stock Exchange, being the regional Stock Exchange.
The Shareholders of UP Stock Exchange at their Extra-Ordinary General
Meeting held on 30th June, 2014 made a request to Securities and
Exchange Board of India (SEBI) for its Exit as Stock Exchange, which
request was confirmed by the SEBI vide its Exit Order dated 09th, June,
2015. Hence the recognition of UPSE was withdrawn by SEBI.
INDUSTRIAL RELATIONS
During the year under review, your Company had cordial and harmonious
industrial relations at all levels of the Organization.
ACKNOWLEDGMENTS
The Directors acknowledge with gratitude, the co-operation and
assistance received from the Government, Banks, Authorities and other
Business Constituents. The Directors would also like to thank the
employees, shareholders, customers and suppliers for their continuous
support given by them to the Company and their confidence reposed in
the Management.
For and on behalf of the Board
Sd/- Sd/-
Place: Kanpur (Ajay Kumar Jain) (Sunil Tandon)
Date: 02nd September, 2015 Whole Time Director Whole Time Director
DIN NO. 00043349 DIN NO. 02249543
Mar 31, 2014
THE MEMBERS OF RTCL LIMITED
The Directors have pleasure in presenting the Twentieth Annual Report
together with the Audited Accounts of the Company for the year ended
March 31st, 2014.
FINANCIAL RESULTS
The highlights of the Financial Results are as under:
(Rupees in Lakhs)
PARTICULARS Year ended Year ended
2013- 2014 2012-2013
Sales and Other Income 304.69 950.40
Profi t/ (Loss) before Interest and
Depreciation 83.30 494.98
Less: Finance Charges (44.00) (31.99)
Less: Depreciation (16.24) (18.77)
Profi t/ (Loss) for the Year 23.06 444.22
Add/(Less): Extraordinary Items (1.77) 84.64
Add/Less: Tax Adjustment Earlier Years - (04.02)
Less: Provision for Income Tax (6.96) (172.72)
Less: Wealth Tax (0.15) (0.23)
Add/(Less): Deferred Tax/Assets/ Liability) 0.43 00.85
Net Profi t/ (Loss) for the Year 14.61 352.74
Add: Balance brought forward 515.57 192.82
Add: Effect of Prior Period Rent/Interest
Income taken in Statement of - 31.18
Income for the Year 2011-12
Profi t/ (Loss) carried to the Balance Sheet 591.36 576.75
OPERATIONS
During the year under review, the Gross Turnover of the Company
decrease to Rs. 304.69 compared to Rs 950.40 lacs in the previous year.
The net profi t of the Company decreased to Rs.14.61 lacs in comparison
to Rs.352.74 lacs in the previous year.
The Company will continue to be responsive to changes in market
dynamics and consumer behaviour and other key factors infl uencing the
business, and will formulate its strategies accordingly. The Company is
planning to venture in real estate/ construction business during the
Year.
DIVIDEND
With a view to conserve resources for future needs of the Company, the
Directors regret their inability to propose any dividend for the year
under review.
DIRECTORS
- Mr. Ajay Kumar Jain (DIN No. 00043349) and Mr. Sunil Tandon (DIN No.
02249543) are liable to retire by rotation and being eligible, offers
himself for re-appointment at the ensuing Annual General Meeting.
- Mr. Harshneet Singh DIN NO. (03496124) appointed as a Director of the
Company on 02/06/2014 has resigned from the Board of Directors w.e.f
30/06/2014.
- Mr. Sunil Tandon (DIN No. 00249543), who was Non Executive
(Independent Director) of the Company was appointed as Executive
Director of the Company from 1st July, 2014.
- Mr. Manoj Kumar Pandey, Director (DIN No. 00057386) of the Company,
was appointed as an Independent, Non- Executive Director on 29.09.2011.
In accordance with Section 149(10) of the Companies Act, 2013, he will
hold the offi ce of Independent Director in the Company upto
28.09.2016.
- Mr. Priyank Jain, Director (DIN No. 06491359) of the Company, was
appointed as an Independent, Non-Executive Director on 30.09.2013. In
accordance with Section 149(10) of the Companies Act, 2013, he will
hold the offi ce of Independent Director in the Company upto
29.09.2018.
DIRECTORS'' RESPONSIBILITY STATEMENT
Pursuant to the requirements under Section of the Companies Act, with
respect to the Directors'' Responsibility Statement, it is hereby confi
rmed:
(i) That in the preparation of the annual accounts for the fi nancial
year ended 31st March, 2014, the applicable accounting standards had
been followed and no material departure have been made from the same;
(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 fi nancial year and of the
profi t of the Company for the year under review;
(iii) That the Directors have taken proper and suffi cient care for the
maintenance of adequate accounting records in accordance with the
provisions of the Companies Act, for safeguarding the assets of the
Company and for preventing and detecting fraud and other
irregularities;
(iv) That the Directors have prepared the annual accounts for the fi
nancial year ended 31st March, 2014, on ''going concern'' basis.
DEMATERIALIZATION OF EQUITY SHARES
The Company''s equity shares are available for trading in the Depository
systems of both the National Securities Depository Limited (NSDL) and
the Central Depository Services (India) Limited (CDSL). The
International Securities Identifi cation Number (ISIN) allotted by NSDL
and CDSL to RTCL Limited is INE754B01012 for the equity shares of your
Company. The status of Equity Capital exists in Electronic Form and
Physical Form as on March 31st, 2014 is as under:
Particulars Nos. of Shares Percentage
Electronic Mode
CDSL 6,46,492 05.39%
NSDL 84,93,238 70.77%
9139730 76.16%
Physical Mode 2861440 23.76%
Total : 1,20,01,170 100.00%
CORPORATE GOVERNANCE
Your Company has successfully implemented the mandatory provisions of
Corporate Governance in accordance with the provisions of Clause 49 of
the Listing Agreement of the Stock Exchanges. Separate Reports on
Corporate Governance and Management Discussion & Analysis are included
in the Annual Report and Certifi cate dated 2nd September, 2014, of the
Auditors of your Company confi rming the compliance of conditions of
Corporate Governance is also annexed thereto.
VIGIL MECHANISM
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.
PARTICULARS OF EMPLOYEES
There was no employee in respect of whom information is required to be
given pursuant to applicable Section of the Companies Act 2013, read
with the Companies (Particulars of Employees) Rules, 1975, as amended
up-to-date.
AUDITORS
M/s. Kumar Piyush & Co. Chartered Accountants, New Delhi, the Statutory
Auditors, will retire at the conclusion of ensuing Annual General
Meeting and being eligible, offer themselves for re-appointment.
AUDITORS REPORT
In respect of observations made by the Auditors in their Report, your
Directors wish to state that the respective notes to the accounts are
self-explanatory, and do not call for any further comments.
INDUSTRIAL RELATIONS
During the year under review, your Company had cordial and harmonious
industrial relations at all levels of the Organization.
PUBLIC DEPOSITS
During the year under review, your Company has not accepted any fi xed
deposits from the public as per the relevant provision of the Companies
Act, 2013 and the Rules made there under.
SUBSIDIARY COMPANY
The Company is not having any subsidiary company.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS & OUTGO
The information required under Conservation of Energy, Technology
Absorption and Foreign Exchange Earnings & Outgo is attached hereto as
Annexure-''A'' and forms part of the Directors'' Report.
ACKNOWLEDGEMENTS
The Directors acknowledge with gratitude, the co-operation and
assistance received from the Government, Banks, Authorities and other
Business Constituents. The Directors would also like to thank the
employees, shareholders, customers and suppliers for their continuous
support given by them to the Company and their confi dence in the
Management.
For and on behalf of the Board
Sd/- Sd/-
Place: Delhi (Ajay Kumar Jain) (Sunil Tandon)
Date: 2nd September, Director Director
2014 DIN NO.00043349 DIN NO.02249543
Mar 31, 2013
To THE MEMBERS OF RTCL LIMITED
The Directors have pleasure in presenting the Nineteenth Annual Report
together with the Audited Accounts of the Company for the year ended
March 31st, 2013.
FINANCIAL RESULTS
The highlights of the Financial Results are as under:
(Rupees in Lakhs)
PARTICULARS Year ended Year ended
2012-2013 2011-2012
Sales and Other Income 953.40 19.71
Profi t/(Loss) before
Interest and Depreciation 497.98 (16.63)
Less: Finance Charges (31.99) (0.233)
Less: Depreciation (18.77) (15.93)
Profi t/(Loss) for the Year 447.22 (32.79)
Add/(Less): Extraordinary Items 84.64 77.41
Add/Less: Tax Adjustment Earlier Years (04.02) (1.17)
Less: Provision for Income Tax (173.69) (8.50)
Less: Wealth Tax (00.23) (0.36)
Add/(Less): Deferred Tax
Assets/ (Liability) 00.85 00.10
Net Profi t/(Loss) for the Year 354.77 34.68
Add: Balance brought forward 192.82 158.14
Add: Effect of Prior Period Rent/Interest
Income taken in Statement of 31.18 00.00
Income for the Year 2011-2012
Profi t/(Loss) carried to the
Balance Sheet 578.77 192.82
OPERATIONS
During the year under review, the Gross Turnover of the Company
increase to Rs. 953.40 compared to Rs 19.71 lacs in the previous year.
The Company was able to earn profi t of Rs. 354.77 lacs as against
profi t of Rs. 34.68 lacs in the previous year. The net profi t of the
Company increased to Rs. 354.77 lacs in comparison to Rs. 34.68 lacs in
the previous year.
The Company will continue to be responsive to changes in market
dynamics and consumer behaviour and other key factors infl uencing the
business, and will formulate its strategies accordingly. The Company is
planning to venture in real estate/ construction business during the
Year.
DIVIDEND
With a view to conserve resources for future needs of the Company, the
Directors regret their inability to propose any dividend for the year
under review.
DIRECTORS
- Mr. Sunil Tandon & Mr. Manoj Kumar Pandey are liable to retire by
rotation and being eligible, offers themselves for re- appointment at
the ensuing Annual General Meeting.
- Mr. Priyank Jain, has been appointed as an Additional Director w.e.f.
10th January 2013.
- Mr. Vijay Mishra has resigned from the Board of Directors, due to his
personal reason w.e.f. 10th January 2013.The Board Place on record its
appreciation of the valuable Services rendered by Mr. Vijay Mishra.
DIRECTORS'' RESPONSIBILITY STATEMENT
Pursuant to the requirements under Section 217 (2AA) of the Companies
Act, 1956, with respect to the Directors'' Responsibility Statement, it
is hereby confi rmed: (i) That in the preparation of the annual
accounts for the fi nancial year ended 31st March, 2013, the applicable
accounting standards had been followed and no material departure have
been made from the same; (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 fi
nancial year and of the profi t of the Company for the year under
review; (iii) That Directors have taken proper and suffi cient 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 Directors have prepared the annual accounts
for the fi nancial year ended 31st March, 2013, on ''going concern''
basis.
DEMATERIALIZATION OF EQUITY SHARES
The Company''s equity shares are available for trading in the Depository
systems of both the National Securities Depository Limited (NSDL) and
the Central Depository Services (India) Limited (CDSL). The
International Securities Identifi cation Number (ISIN) allotted by NSDL
and CDSL to RTCL Limited is INE754B01012 for the equity shares of your
Company. The status of Equity Capital exists in Electronic Form and
Physical Form as on March 31st, 2013 is as under:
Particulars Nos. of Shares Percentage
Electronic Mode
CDSL 6,43,302 05.36%
NSDL 84,89,528 70.74%
9132830 76.10%
Physical Mode 2868340 23.90%
Total : 1,20,01,170 100.00%
CORPORATE GOVERNANCE
Your Company has successfully implemented the mandatory provisions of
Corporate Governance in accordance with the provisions of Clause 49 of
the Listing Agreement of the Stock Exchanges. Separate Reports on
Corporate Governance and Management Discussion & Analysis are included
in the Annual Report and Certifi cate dated May 30th, 2013, of the
Auditors of your Company confi rming the compliance of conditions of
Corporate Governance is also annexed thereto.
COMPANY SECRETARY
Pursuant to the section 383A and other applicable provisions of the
Company Act 1956, Mr. Vishal Saxena, Who is a member of I.C.S.I. and
having more than Ten Year work experience in fi eld of Secretarial,
Legal, Corporate Governance here by appointed as Secretary of the
Company w.e.f form 01.01.2013 on such term & conditions as decided by
the Board of Directors.
PARTICULARS OF EMPLOYEES
There was no employee in respect of whom information is required to be
given pursuant to Section 217(2A) of the Companies Act, 1956, read with
the Companies (Particulars of Employees) Rules, 1975, as amended
up-to-date.
AUDITORS
M/s. Kumar Piyush & Co. Chartered Accountants, New Delhi, the Statutory
Auditors, will retire at the conclusion of ensuing Annual General
Meeting and being eligible, offer themselves for re-appointment.
AUDITORS REPORT
In respect of observations made by the Auditors in their Report, your
Directors wish to state that the respective notes to the accounts are
self-explanatory, and do not call for any further comments.
INDUSTRIAL RELATIONS
During the year under review, your Company had cordial and harmonious
industrial relations at all levels of the Organization.
PUBLIC DEPOSITS
During the year under review, your Company has not accepted any fi xed
deposits from the public within the meaning of Section 58A of the
Companies Act, 1956 and the Rules made there under.
SUBSIDIARY COMPANY
The Company is not having any subsidiary company.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS & OUTGO
The information required under Section 217 (1) (e) of the Companies
Act, 1956 read with the Companies (Disclosure of Particulars in the
Report of the Board of Directors) Rules, 1988 is attached hereto as
Annexure-''A'' and forms part of the Directors'' Report.
ACKNOWLEDGEMENTS
The Directors acknowledge with gratitude, the co-operation and
assistance received from the Government, Banks, Authorities and other
Business Constituents. The Directors would also like to thank the
employees, shareholders, customers and suppliers for their continuous
support given by them to the Company and their confi dence in the
Management.
For and on behalf of the Board
Sd/- Sd/-
Place: Delhi (Ajay Kumar Jain) (Sunil Tandon)
Date: May 30th, 2013 Director Director
DIN NO.00043349 DIN NO.02249543
Mar 31, 2012
To The Members of RTCL Limited
The Directors have pleasure in presenting the Eighteenth Annual Report
together with the Audited Accounts of the Company for the year ended
March 31st, 2012.
FINANCIAL RESULTS
The highlights of the Financial Results are as under:
(Rupees in Lakhs)
PARTICULARS Year ended Year ended
2011-2012 2010-2011
Sales and Other Income 19.71 72.16
Profit/(Loss) before Interest and
Depreciation (16.63) 26.62
Less: Finance Charges (0.233) (6.56)
Less: Depreciation (15.93) (17.98)
Profit/(Loss) for the Year (32.79) 2.07
Add/(Less): Extraordinary Items 77.41 9.43
Add/Less: Tax Adjustment Earlier Years (1.17) 0.15
Less: Provision for Income Tax (8.50) (4.18)
Less: Wealth Tax (0.36) (0.07)
Add/(Less): Deferred Tax Assets/ (Liability) 0.10 0.35
Net Profit/(Loss) for the Year 34.68 7.75
Add: Balance brought forward 158.14 150.39
Profit/(Loss) carried to the Balance Sheet 192.82 158.14
OPERATIONS
During the year under review, the Gross Turnover of the Company
declined to Rs. 19.71 compared to Rs 72.16 lacs in the previous year.
However, the Company was able to earn profit of Rs. 34.68 lacs as
against profit of Rs. 7.75 lacs in the previous year. The net profit of
the Company increased to Rs. 34.68 lacs in comparison to Rs. 7.75 lacs
in the previous year.
The Company will continue to be responsive to changes in market
dynamics and consumer behavior and other key factors influencing the
business, and will formulate its strategies accordingly. The Company is
planning to venture in real estate/ construction business during the
Year.
DIVIDEND
With a view to conserve resources for future needs of the Company, the
Directors regret their inability to propose any dividend for the year
under review.
DIRECTORS
- Mr. Vijay Mishra & Mr. Manoj Kumar Pandey are liable to retire by
rotation and being eligible, offers themselves for re-appointment at
the ensuing Annual General Meeting.
- Mr. Sunil Tandon has been appointed as an Additional Director
w.e.f. 30th November, 2011.
- Mr. Shanker Lal Agrawal has resigned from the Board of Directors,
due to personal reasons w.e.f. 30.11.2011. The Board Place on record
its appreciation of the valuable Services rendered by Mr. Shanker Lal
Agrawal.
DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to the requirements under Section 217 (2AA) of the Companies
Act, 1956, with respect to the Directors' Responsibility Statement,
it is hereby confirmed:
(i) That in the preparation of the annual accounts for the financial
year ended 31st March, 2012, the applicable accounting standards had
been followed and no material departure have been made from the same;
(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 of the Company for the year under review;
(iii) That 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 Directors have prepared the annual accounts for the financial
year ended 31st March, 2012, on 'going concern' basis.
DEMATERIALIZATION OF EQUITY SHARES
The Company's equity shares are available for trading in the
Depository systems of both the National Securities Depository Limited
(NSDL) and the Central Depository Services (India) Limited (CDSL). The
International Securities Identification Number (ISIN) allotted by NSDL
and CDSL to RTCL Limited is INE754B01012 for the equity shares of your
Company. The status of Equity Capital exists in Electronic Form and
Physical Form as on March 31st, 2012 is as under:
Particulars Nos. of Shares Percentage
Electronic Mode
CDSL 7,05,506 05.88%
NSDL 83,26,524 69.38%
90,32,030 75.26%
Physical Mode 29,69,140 24.74%
Total: 1,20,01,170 100.00%
CORPORATE GOVERNANCE
Your Company has successfully implemented the mandatory provisions of
Corporate Governance in accordance with the provisions of Clause 49 of
the Listing Agreement of the Stock Exchanges. Separate Reports on
Corporate Governance and Management Discussion & Analysis are included
in the Annual Report and Certificate dated May 30th, 2012, of the
Auditors of your Company confirming the compliance of conditions of
Corporate Governance is also annexed thereto.
PARTICULARS OF EMPLOYEES
There was no employee in respect of whom information is required to be
given pursuant to Section 217(2A) of the Companies Act, 1956, read with
the Companies (Particulars of Employees) Rules, 1975, as amended
up-to-date.
AUDITORS
M/s. Kumar Piyush & Co. Chartered Accountants, New Delhi, the Statutory
Auditors, will retire at the conclusion of ensuing Annual General
Meeting and being eligible, offer themselves for re-appointment.
AUDITORS REPORT
In respect of observations made by the Auditors in their Report, your
Directors wish to state that the respective notes to the accounts are
self-explanatory, and do not call for any further comments.
INDUSTRIAL RELATIONS
During the year under review, your Company had cordial and harmonious
industrial relations at all levels of the Organization.
PUBLIC DEPOSITS
During the year under review, your Company has not accepted any fixed
deposits from the public within the meaning of Section 58A of the
Companies Act, 1956 and the Rules made there under.
SUBSIDIARY COMPANY
The Company is not having any subsidiary company.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS & OUTGO:
The information required under Section 217 (1) (e) of the Companies
Act, 1956 read with the Companies (Disclosure of Particulars in the
Report of the Board of Directors) Rules, 1988 is attached hereto as
Annexure-'A' and forms part of the Directors' Report.
ACKNOWLEDGEMENTS:
The Directors acknowledge with gratitude, the co-operation and
assistance received from the Government, Banks, Authorities and other
Business Constituents. The Directors would also like to thank the
employees, shareholders, customers and suppliers for their continuous
support given by them to the Company and their confidence in the
Management.
For and on behalf of the Board
Sd/- Sd/-
Place: Delhi (Ajay Kumar Jain) (Vijay Mishra)
Date: May 30th, 2012 Director Director
DIN NO.00043349 DIN NO.00322006
Mar 31, 2011
The Directors have pleasure in presenting the Seventeenth Annual
Report together with the Audited Accounts of the Com- pany for the year
ended March 31, 2011.
FINANCIAL RESULTS
The highlights of the Financial Results are as under:
(Rupees in Lakhs)
PARTICULARS Year ended Year ended
2010-2011 2009-2010
Sales and Other Income 72.16 103.97
Profit/(Loss) before Interest and Depreciation 26.62 (15.14)
Less: Finance Charges (6.56) (11.37)
Less: Depreciation (17.98) (20.50)
Profit/(Loss) for the Year 2.07 (47.01)
Add/(Less): Extraordinary Items 9.43 158.96
Less: Fringe Benefit Tax NIL -
Less: Provision for Income Tax (4.18) (30.18)
Less: Wealth Tax (0.07) (0.25)
Add/(Less): Deferred Tax Assets/ (Liability) (0.35) 0.62
Net Profit/(Loss) for the Year 7.75 82.14
Add: Balance brought forward 150.39 68.25
Profit/(Loss) carried to the Balance Sheet 158.14 150.39
OPERATIONS
During the year under review, the Gross Turnover of the Company
declined to Rs. 72.16 compared to Rs.103.97 lacs in the previous year.
However, the Company was able to earn profit of Rs.7.75 lacs as against
profit of Rs. 82.14 lacs in the previous year. The net profit of the
company declined to Rs.7.75 lacs in comparison to Rs. 82.14 lacs in the
previous year.
The Company will continue to be responsive to changes in market
dynamics and consumer behavior and other key factors influencing the
business, and will formulate its strategies accordingly.
DIVIDEND
With a view to conserve resources for future needs of the Company, the
Directors regret their inability to propose any divi- dend for the year
under review.
DIRECTORS
Mr. Shanker Lai Agrawal are liable to retire by rotation and being
eligible, offers themselves for re-appQintment at the ensuing Annual
General Meeting.
Mr. Vijay Mishra has been appointed as Additional Director, w.e.f. 22nd
November 2010.
Mr. Ajay Kumar Jain appointed as Additional Director from the approval
of the board w.e.f. 22nd November 2010 and he is also appointed as
Whole-time Director for the tenure of three year, subject to the
approval of the members of the Company at ensuing Annual General
Meeting of the Company.
Mr. Manoj Pandey has been appointed as Additional Director, w.e.f. 22nd
November 2010.
Mr. Om Prakash Agrawal has resigned from Board due to his personal
reason w.e.f 22.11.2010. The Board Place on record its appreciation of
the valuable Services and sincere gratitude towards the guidance
rendered by Mr. Om Prakash Agrawal.
Mr. Sailesh Kumar Gupta has resigned from the Board due to his personal
reason w.e.f. 22.11.2010. The Board Place on record its appreciation of
the valuable Services and sincere gratitude towards the guidance
rendered by Mr. Sailesh Kumar Gupta.
DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to the requirements under Section 217 (2AA) of the Companies
Act, 1956, with respect to the Directors' Responsibility Statement,
it is hereby confirmed:
(i) That in the preparation of the annual accounts for the financial
year ended 31st March, 2011, the applicable accounting standards had
been followed and no material departure have been made from the same;
(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 of the Company for the year under review;
(iii) That 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 Directors have prepared the annual accounts for the financial
year ended 31st March, 2011, on 'going concern' basis.
DEMATERIALIZATION OF EQUITY SHARES
The Company's equity shares are available for trading in the Depository
systems of both the National Securities Depository Limited (NSDL) and
the Central Depository Services (India) Limited (CDSL). The
International Security Identification Number (ISIN) allotted by NSDL
and CDSL to RTCL Limited is INE754B01012 for the equity shares of your
Company. The status of Equity Capital exists in Electronic Form and
Physical Form as on March 31st, 2011 is as under:
Particulars Nos. of Shares Percentage
Electronic Mode
CDSL 7,43,883 06.20%
NSDL 81,13,247 67.60%
8857130 73.80%
Physical Mode 31,44,040 26.20%
Total: 1,20,01,170 100.00%
CORPORATE GOVERNANCE
Your Company has successfully implemented the mandatory provisions of
Corporate Governance in accordance with the provisions of Clause 49 of
the Listing Agreement of the Stock Exchanges. Separate Reports on
Corporate Governance and Management Discussion & Analysis are included
in the Annual Report and Certificate dated May 30, 2011, from M/s
Sushil Gupta & Associates, Company Secretaries, confirming the
compliance of conditions of Corporate Governance is also annexed
thereto.
PARTICULARS OF EMPLOYEES
There was no employee in respect of whom information is required to be
given pursuant to Section 217(2A) of the Companies Act, 1956, read
with the Companies (Particulars of Employees) Rules, 1975, as amended
up-to-date.
AUDITORS
M/s. Kumar Piyush & Co. Chartered Accountants, New Delhi, the Statutory
Auditors, will retire at the conclusion of ensuing Annual General
Meeting and being eligible, offer themselves for re-appointment.
AUDITORS REPORT
In respect of observations made by the Auditors in their Report, your
Directors wish to state that the respective notes to the accounts are
self-explanatory, and do not call for any further comments.
INDUSTRIAL RELATIONS
During the year under review, your Company had cordial and harmonious
industrial relations at all levels of the Organization. PUBLIC
DEPOSITS
During the year under review, your Company has not accepted any fixed
deposits from the public within the meaning of Section 58Aof the
Companies Act, 1956 and the Rules made there under.
SUBSIDIARY COMPANY
The Company is not having any subsidiary company.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS & OUTGO:
The information required under Section 217 (1) (e) of the Companies
Act, 1956 read with the Companies (Disclosure of Particulars in the
Report of the Board of Directors) Rules, 1988 is attached hereto as
Annexure-'A and forms part of the Directors' Report.
ACKNOWLEDGEMENTS:
The Directors acknowledge with gratitude, the co-operation and
assistance received from the Government, Banks, Authori- ties and other
Business Constituents. The Directors would also like to thank the
employees, shareholders, customers and suppliers for their continuous
support given by them to the Company and their confidence in the
Management.
For and on behalf of the Board
Sd/- Sd/-
Place: Delhi (Ajay Kumar Jain) (Vijay Mishra)
Date: July 15, 2011 DIN NO.00043349 DIN NO.00322006
Director Director
Mar 31, 2010
The Directors have pleasure in presenting the Sixteenth Annual Report
together with the Audited Accounts of the Company for the year ended
March 31,2010.
FINANCIAL RESULTS
The highlights of the Financial Results are as under:
(Rupees in Lakhs}
PARTICULARS Year ended 2009-2010 Year ended 2008-2009
Sales and Other Income 103.97 173.31
Profit/(Loss) before Interest
and Depredation (15.14) 62.06
Less: Finance Charges (11.37) (21.54)
Less: Depreciation (20.50) (29.33)
Profit/(Loss) for the Year (47.01) 31.18
Add/(Less): Extraordinary Items 156.96 (4.49)
Less: Fringe Benefit Tax - (1.20)
Less: Provision for Income Tax (30.18) (6.95)
Less: Wealth Tax (0.25) (0.24)
Add/(Less): Deferred Tax Assets/
(Liability) 0.62 .08
Net Profit/(Loss) for the Year 82.14 16.37
Add: Balance brought forward 68.25 51.87
Profit/(Loss) carried to the
Balance Sheet 150.39 68.24
OPERATIONS
During the year under review, the Gross Turnover of the Company
decreased to Rs. 10 3.97as compared to Rs. 173.31 lacs in the previous
year. However, the Company was able to earn profit of Rs. 82.14 lacs as
against profit of Rs. 16.37 lacs in the previous year. The net profit
of the company enhanced to Rs. 82.14 lacs in comparison to Rs. 16.37
lacs in the previous year.
The Company will continue to be responsive to changes in market
dynamics and consumer behavior and other key factors influencing the
business, and will formulate its strategies accordingly.
DIVIDEND
With a view to conserve resources for future needs of the Company, the
Directors regret their inability to propose any divi- dend for the year
under review.
DIRECTORS
Mr. Sri Prakash Agrawal has resigned from Board due to his personal
reason w.e.f 30.09.2009.
Mr. Brijesh Kadyar has resigned from the board due to his personal
reason w.e.f. 31.05.2010.
Mr. Shanker Lal Agrawal and Mr. Sailesh Kumar Gupta are liable to
retire by rotation and being eligible, offers themselves for
re-appointment. at the ensuing Annual General Meeting.
Mr. Ashish Tiwari was Appointed as an Additional Director of the
Company w.e.f. 31.05.2010. He was also appointed as Whole-time Director
Designated as Whole Time Director cum Company Secretary for the tenure
of five year, subject to the approvaI of the members of the Company at
ensuing Annual General Meeting of the Company.
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to the requirements under Section 217 (2AA)of the Companies
Act, 1956, with respect to the Directors Respon- ability Statement, it
is hereby confirmed:
(i) That in the preparation of the annua I accounts for the financial
year ended 31st March, 2010, the applicable accounting standards had
been followed and no material departure have been made from the same;
(ii) That the Directors had selected such accounting policies and
applied them consistently and made judgments and es- timates 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 yea and of the
profit of the Company for the year under review.
(iii) That 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 Directors have prepared the annual accounts for the financial
year ended 31st March, 2010, on going concern basis.
CORPORATE GOVERNANCE
Your Company has successfully implemented the mandatory provisions of
Corporate Governance in accordance with the provisions of Clause 49 of
the Listing Agreement of the Stock Exchanges. Separate Reports on
Corporate Governance and Management Discussion &. Analysis are included
in the Annual Report and Certificate dated May 31,2010 from M/s Sushil
Gupta & Associates, Company Secretaries, confirming the compliance of
conditions of Corporate Governance is also an- nexed thereto.
PARTICULARS OF EMPLOYEES
There was no employee in respect of whom information is required to be
given pursuant to Section 217[2A) of the Compa- nies Act, 1956, read
with the Companies (Particulars of Employees) Rules, 1975 as amended
up-to-date.
AUDITORS
M/s. Kumar Piyush & Co. Chartered Accountants, New DeIhi the Statutory
Auditors, will retire at the conclusion of ensuing Annual General
Meeting and being eligible, offer themselves for re-appointment.
AUDITORS REPORT
In respect of observation made by the Auditors in their Report, your
Directors wish to state that the respective notes to the accounts are
self-explanatory, and do not call for any further comments.
INDUSTRIAL RELATIONS
During the year under review, your Company had cordial and harmonious
industrial relations at all levels of the Organiza- tion.
PUBLIC DEPOSITS
During the year under review, your Company has not accepted any fixed
deposits from the public within the meaning of Section 58Aof the
Companies Act, 1956 and the Rules made there under.
SUBSIDIARY COMPANY
The Company has one subsidiary company RTC Real Estate Private Limited.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS & OUTGO:
The information required under Section 217 (1) (e) of the Companies
Act, 1956 read with the Companies (Disclosure of Particulars in the
Report of the Board of Directors) Rules, 19BB is attached hereto as
Annexure-A and forms part of the Directors Report.
ACKNOWLEDGEMENTS
The Directors acknowledge with gratitude, the co-operation and
assistance received from the Government, Banks, Authori- ties and other
Business Constituents. The Directors would also like to thank the
employees, shareholders, customers and suppliers for their continuous
support given by them to the Company and their confidence in the
Management.
For and on behalf of the Board
Place: Delhi (Om Prakash Aqrawal) (Shankor Lal Agrawal)
Date: May 31,2010 DIN NO.00011717 DIN NO.000183597
Director Director
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