Mar 31, 2014
The Members of
Sanmitra Commercial Limited
The Directors have pleasure in presenting Thirtieth Annual Report
together with the Audited Accounts of the Company for the year ended
31st March 2014.
PERFORMANCE
There was no revenue from operation during the year as compared to Rs.
41,85,573/- in the previous year, resulting in net loss of Rs. 41,418/-
as compared to net loss of Rs. 73,852/- in the previous year. Due to
accumulated losses; your Directors are unable to recommend any
dividend.
DIRECTOR''S RESPONSIBILITY STATEMENT
Pursuant to Section 217(2AA) of the Companies Act, 1956 the Directors
confirm that:
1. In the preparation of the annual accounts, the applicable
accounting standards have been followed.
2. Appropriate accounting policies as mentioned in Note No. 1 have
been 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, 2014 and of the loss
of the Company for Year ended on that date.
3. Proper and sufficient care has been taken for the maintenance of
adequate accounting records in accordance with the provisions of the
Companies Act, 1956 for safeguarding the assets of the Company and for
preventing and detecting fraud and other irregularities;
4. The annual accounts have been prepared on a going concern basis.
LISTING AGREEMENT
Pursuant to Clause 32 of the listing agreement with Mumbai Stock
Exchange, the Company declares that its securities are listed on Mumbai
Stock Exchange. Listing Fees have been duly paid to the Mumbai Stock
Exchange for the year 2014-2015.
DIRECTORS
Mr. Suresh Jain retires by rotation at the ensuring Annual General
Meeting and being eligible offers himself for reappointment. He will be
re-appointed as Non-executive Independent Director for a period of five
years.
Mr. Suresh Jain is B.Com, LL.B. and has vast experience in finance and
business management. The Board recommends his appointment.
Mr. Mangesh Apte was appointed as Additional Director (Independent
Non-Executive) and being eligible offers himself for reappointment. He
will be re-appointed as Non- executive Independent Director for a
period of five years.
Mr. Mangesh Apte is M.Com, D.F.M. has vast experience in financial
management and compliances. He has been lecturer in various colleges
and was Cost Officer in NTC for ten years and has an experience in
compliances. The Board recommends his appointment.
FIXED DEPOSITS
The Company has not accepted any Fixed Deposit from the public during
the year under review.
PROPOSAL TO DIVERSIFY THE BUSINESS ACTIVITY IN OTHER AREAS
1. The Board of Directors decided to diversify into other activities
namely to start with the business of rendering services in the field of
manpower placement, recruitment & training and employment of security
guards, skilled & unskilled labour and workers including managerial
staff to various organization & also to provide security systems,
hardware and software including maintenance of systems.
2. To start hospitality, facility management & property management in
India and abroad and to also conduct other business and services in the
respect of the above services.
POSTAL BALLOT
NOTICE for Postal Ballot was given to the Members on January 2, 2014
and Resolutions pursuant to Section 17 and all other applicable
provisions as required by Companies Act, 1956 were passed to give
effect to the new business to be carried by the Company.
Results of successful completion of Postal Ballot were duly published.
EMPLOYEES
No employee is receiving remuneration beyond the limit prescribed under
the provisions of Section 217(2A) of the Companies Act, 1956 read with
Companies (Particulars of Employees) Rules, 1975 as amended up to date.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO
The company has only trading activities hence, the information as
required under section 217 (1)(a) of the Companies Act, 1956 read with
Companies (Disclosure of Particulars in the Report of Board of
Directors) Rules, 1988 pertaining to conservation of energy or
technology absorption is not required to be submitted. The Company has
no foreign exchange earning and outgo during the year under review.
AUDITORS
M/s. A. W. Ketkar & Co., Chartered Accountants, Auditors of the Company
retires on conclusion of the ensuing Annual General Meeting. They are
eligible for reappointment and members are requested to appoint the
auditors.
SECRETARIAL AUDIT REPORT
The Company has obtained Secretarial Audit Report from M/s. GMJ &
ASSOCIATES, Company Secretaries in whole-time practice under section
383A of the Companies Act, 1956 and it forms part of the balance sheet.
ACKNOWLEDGEMENTS
Your Directors place on record their deep sense of appreciation for the
contribution of employees at all levels and for the support from the
government authorities, banks, lenders and the associates.
By Order of the Board of Directors
Place : Mumbai SURESH JAIN PRAKASH SHAH
Date : May 30, 2014 Director Director
Mar 31, 2013
To The Members of Sanmitra Commercial Limited
The Directors have pleasure in presenting Twenty Ninth Annual Report
together with the Audited Accounts of the Company for the year ended
31st March 2013.
PERFORMANCE
The revenue from operation during the year was Rs. 41,85,573/- as
compared to Rs. 2,41,28,326/- in the previous year, resulting in net loss
of Rs. 73,852/- as compared to net loss of Rs. 45,259/- in the previous
year. Due to accumulated losses; your Directors are unable to recommend
any dividend.
DIRECTOR''S RESPONSIBILITY STATEMENT
Pursuant to Section 217(2AA) of the Companies Act, 1956 the Directors
confirm that:
1. In the preparation of the annual accounts, the applicable
accounting standards have been followed.
2. Appropriate accounting policies as mentioned in Note No. 1 have
been 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, 2013 and of the loss
of the Company for Year ended on that date.
3. Proper and sufficient care has been taken for the maintenance of
adequate accounting records in accordance with the provisions of the
Companies Act, 1956 for safeguarding the assets of the Company and for
preventing and detecting fraud and other irregularities;
4. The annual accounts have been prepared on a going concern basis.
LISTING AGREEMENT
Pursuant to Clause 32 of the listing agreement with Mumbai Stock
Exchange, the Company declares that its securities are listed on Mumbai
Stock Exchange. Listing Fees have been duly paid to the Mumbai Stock
Exchange for the year 2013-2014.
DIRECTORS
Mr. Arvind Shah Director, have resigned during the year. The Board
places on record its appreciation of the services rendered and guidance
given by him during his tenure as director on the Board.
Mr. Prakash Shah retires by rotation at the ensuring Annual General
Meeting and though being eligible offers himself for reappointment.
FIXED DEPOSITS
The Company has not accepted any Fixed Deposit from the public during
the year under review.
PROPOSAL TO DIVERSIFY THE BUSINESS ACTIVITY IN OTHER AREAS
1. The Board of Directors decided to diversify into other activities
namely to start with the business of rendering services in the field of
manpower placement, recruitment & training and employment of security
guards, skilled & unskilled labour and workers including managerial
staff to various organization & also to provide security systems,
hardware and software including maintenance of systems.
2. To start hospitality, facility management & property management in
India and abroad and to also conduct other business and services in the
respect of the above services.
EMPLOYEES
No employee is receiving remuneration beyond the limit prescribed under
the provisions of Section 217(2A) of the Companies Act, 1956 read with
Companies (Particulars of Employees) Rules, 1975 as amended up to date.
AUDITORS
M/s. A. W. Ketkar & Co., Chartered Accountants, Auditors of the Company
retires on conclusion of the ensuing Annual General Meeting. They are
eligible for reappointment and members are requested to appoint the
auditors.
ACKNOWLEDGEMENTS
Your Directors place on record their deep sense of appreciation for the
contribution of employees at all levels and for the support from the
government authorities, banks, lenders and the associates.
Place : Mumbai, By Order of the Board of Directors
Date : May 30, 2013
REGISTERED OFFICE
Office No. 4, G. Floor, Ruby Mahal,
30D, Cawasji Patel Street, Fort, SURESH JAIN SANTOSH SURVE
Mumbai 400 001. Director Director
Mar 31, 2010
The Directors have pleasure in presenting Twenty Sixth Annual Report
together with the Audited Accounts of the Company for the year ended
31st March 2010.
PERFORMANCE
The Income of operation during the year was Rs.10,83,93,967/- as
compared to Rs.5,85,24,730/- in the previous year. The Company has
earned a net profit after taxes at Rs.36,156/- against Rs. 25,408/- for
the previous year. Due to inadequate profit, your Directors are unable
to recommend any dividend.
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to Section 217(2AA) of the Companies Act, 1956 the Directors
confirm that
1. In the preparation of the annual accounts, the applicable
accounting standards have been followed.
2. Appropriate accounting policies as mentioned in Schedule No. 7 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 31" March, 2010 and
of the profit of the Company for Year ended on that date.
3. Proper and sufficient care has been taken for the maintenance of
adequate accounting records in accordance with the provisions of the
Companies Art, 1956 for safeguarding the assets of the Company and for
preventing and detecting fraud and other irregularities;
4. The annual accounts have been prepared on a going concern basis.
LISTING AGREEMENT
Pursuant to Clause 32 of the listing agreement with Mumbai Stock
Exchange, the Company declares that its securities are listed on Mumbai
Stock Exchange. Listing Fees have been duly paid to the Mumbai Stock
Exchange for the year 2010-2011.
DIRECTORS
Mr. Deepak Patel retires by rotation at the ensuring Annual General
Meeting and though being eligible does not offers himself for
reappointment
The Board places on records their deep appreciation for the valuable
services and the guidance given by him to the company till his being on
the board of the company.
Pursuant to provisions of section 260 of the Companies Act, 1956 and
Articles of Association of the Company, Mr. Arvind Shah was appointed
as an Additional Director on the Board with effect from July 16, 2010.
He shall hold office upto the date of the ensuing Annual General
Meeting. The Company has received a notice in writing alongwith
requisite deposit under section 257 of the Companies Act, 1956 from a
member proposing the candidature of Mr. Arvind Shah to the post of the
Director of the Company to fill up the vacancy of the retiring director
Mr. Deepak Patel, liable to retire by rotation.
FIXED DEPOSITS
The Company has not accepted any Fixed Deposit from the public during
the year under review.
EMPLOYEES
No employee is receiving remuneration beyond the limit prescribed under
the provisions of Section 217(2A) of the Companies Aci, 1956 read with
Companies (Particulars of Employees) Rules, 1975 as amended up to date.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO
The company has only trading activities hence, the information as
required under section 217 (l)(a) of the Companies Act, 1956 read with
Companies (Disclosure of Particulars in the Report of Board of
Directors) Rules, 1988 pertaining to conservation of energy or
technology absorption is not required to be submitted. The Company has
no foreign exchange earning and outgo during the year under review.
AUDITORS
M/s. A. W. Ketkar & Co., Chartered Accountants, Auditors of the Company
retires on conclusion of the ensuing Annual General Meeting. They are
eligible for reappointment and members are requested to appoint the
auditors.
SECRETARIAL AUDIT REPORT
The Company has obtained Secretarial Audit Repot from M/s. Sarika
Jajodia & Co., Company Secretaries in whole-time practice under section
383A of the Companies Act, 1956 and it forms part of the balance sheet
ACKNOWLEDGEMENTS
Your Directors place on record their deep sense of appreciation for the
contribution of employees at all levels and for the support from the
government authorities, financial institutions, banks, lenders and the
associates.
Place: Mumbai, By Order of the Board of Directors
Date : August 14,2010
REGISTERED OFFICE
Office No. 4, G. Floor,
Ruby Mahal, 30D,
Cawasji Patel Street, Fort, SURESHJAIN PRAKASHSHAH
Mumbai 400 001. Director Director
Mar 31, 2002
The Directors have pleasure in presenting Eighteenth Annual Report
together with the Audited Accounts of the Company for the year ended
31st March 2002.
FINANCIAL RESULTS Rs.
Sales 9,77,425
Profit for the year 1,611
PERFORMANCE
The sale during the year was Rs. 9,77,425/- as compared to Rs.
19,55,650/- in the previous year. Due to accumulated losses, your
Directors are unable to recommend any dividend.
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to Section 217(2AA) of the Companies Act, 1956 the Directors
confirm that:
1. in the preparation of the annual accounts, the applicable
accounting standards have been followed.
2. Appropriate accounting policies as mentioned in Schedule No. 9 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, 2002 and
of the Profit of the Company for Year ended on that date.
3. Proper and sufficient care has been taken for the maintenance of
adequate accounting records in accordance with the provisions of the
Companies Act, 1956 for safeguarding the assets of the Company and for
preventing and detecting fraud and other irregularities;
4. The annual accounts have been prepared on a going concern basis.
LISTING AGREEMENT
Pursuant to Clause 32 of the listing agreement with Mumbai Stock
Exchange, the Company declares that its securities are listed on Mumbai
Stock Exchange. Listing Fees have been duly paid to the Mumbai Stock
Exchange for the year 2001-2002.
DIRECTORS
Mr. Deepak Patel and Mr. Santosh Surve, Directors shall retire by
rotation and being eligible offer themselves for reappointment.
FIXED DEPOSITS
The Company has not accepted any Fixed Deposit from the public during
the year under review.
EMPLOYEES
No employee is receiving remuneration beyond the limit prescribed under
the provisions of Section 217(2A) of the Companies Act, 1956 read with
Companies (Particulars of Employees) Rules, 1975 as amended up to date.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO
The.company has only trading activities hence, the information as
required under section 217 (l)(a) of the Companies Act, 1956 read with
Companies (Disclosure of Particulars in the Report of Board of
Directors) Rules, 1988 pertaining to conservation of energy or
technology absorption is not required to be submitted. The Company has
no foreign exchange earning and outgo during the year under review.
AUDITORS & AUDITORS REPORT
M/s. A. W. Ketkar & Co., Chartered Accountants, Auditors of the Company
retires on conclusion of the ensuing Annual General Meeting. They are
eligible for reappointment and members are requested to appoint the
auditors.
Your Directors refer to the observations made by the Auditors in their
Report and wish to state that the Auditors observations as well as
explanations given in the notes forming part of the Accounts Are self
explanatory and hence do not require any further comments.
By Order of the
Board of Directors
Deepak Patel
Director
Place: Mumbai,
Date : June 29, 2002
REGISTERED OFFICE
23, Jalaram Najjar, 2nd Floor,
Opp. Chamunda Circle, Ganjawalla Lane,
Borivali (West), Mumbai 400 091.
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