Mar 31, 2015
Dear Members,
The directors have pleasure in presenting their 21st Annual Report on
the business and operations of the company together with the Audited
Statement of Accounts for the year ended 31st March, 2015.
1. FINANCIAL HIGHLIGHTS:
During the year under review, performance of your company as under:
(Rs. In Lakhs)
Particulars 2014-2015 2013-14
Total Revenue 8,07 10.47
Total Expenses 7.52 9.88
Gross Profit 0.55 0.59
Provision for Depreciation -- --
Net Profit Before Tax 0.55 0.59
Provision for Tax 0.18 0.18
Net Profit After Tax 0.37 0.41
Balance of Profit brought forward 81.94 81.53
Balance available for appropriation 82.31 81.94
Proposed Dividend on Equity Shares -- --
Tax on proposed Dividend -- --
Transfer to General Reserve -- --
Surplus carried to Balance Sheet 82.31 81.94
2. STATE OF COMPANY'S AFFAIRS & FUTRURE OUTLOOK
During the period under review, the turnover of the Company has
decreased to 8.07 Lakhs as against that of the previous year. of Rs.
10.47 Lakhs. The financials depict decrease in profits for the current
year as against the profit of Rs. 0.37 Lakhs mainly due to the decrease
in revenues of the Company.
The changing economic and business conditions followed by evolving
consumer/client preferences and rapid technological innovations and
adopting, the Company is making efforts for creating an increasingly
receptive market in the present IT Sector. Thus, the current driving
motto of all IT sectors Companies is to transform their operation and
business undertakings in the most productive manner and earn returns
However, the Company is optimistic in improving and continue to focus
on reflecting and delivering superior performance on projects
undertaken and reap profits in the coming years.
3. CHANGES IN NATURE OF BUSINESS:
During the period under review, there is no change in the nature of
business carried out by the Company.
4. DIVIDEND
During the F.Y 2014-15, the Company has not been able to earn profits
so as to reward the shareholders. Therefore, your directors do not
recommend any dividend for the year under review.
5. AMOUNTS TRANSFERRED TO RESERVES:
No Transfer to Reserves is proposed and accordingly the entire balance
available in profit and loss account is retained in it.
6. SHARE CAPITAL:
The Share Capital of your Company is Rs. 5,05,00,000 During the
Financial Year 2014-15, there has been no change in the share Capital
of the Company.
7. PUBLIC DEPOSITS:
The Company has neither accepted nor renewed any deposits from public
within the meaning of Section 73 of the Companies Act, 2013 read with
Companies (Acceptance of Deposits) Rules, 2014 during the year.
8. DIRECTORS
Your Board consists of SIX Directors including FOUR Independent non-
executive Directors. The declaration from all the independent directors
are being obtained both at the time of appointment and at the first
Board meeting of the financial year annually.
A. BOARD MEETINGS
A calendar of meetings is prepared and circulated in advance to the
Directors. During the financial year under review, your Board met FIVE
times and the dates of the board meeting held are 29.05.2014,
31.07.2014, 14.08.2014, 31.10.2014 and 31.01.2015The details of the
Board Meetings held during the year are covered in the Clause No. 2 of
the Corporate Governance Report.
Shri Chellamani Pitchandi&Shri Senraj Muthiah Sennavanadi,directors of
the Company are liable to retire by rotation at the ensuing Annual
General Meeting and being eligible offer themselves for re-appointment.
Your Board recommends their appointment.
B. INDEPENDENT DIRECTORS AND THEIR DECLARATION:
During the year under review, your Board in the Annual General Meeting
held on 29th September, 2014 has appointed Smt. Sarada Dittakavi as an
independent directors of the Company to comply with the provisions of
Sections 149 of the Companies Act, 2013 which mandates every listed
Company to have at least 1/3rd of its directors as Independent
directors.
All the Independent Directors have given a declaration under
sub-section (7) of Section 149 of the Companies Act, 2013 that they
meet the criteria of independence as laid down under Section 149 (6) of
the Companies Act, 2013 and Clause 49 of the Listing Agreement.
C. KEY MANAGERIAL PERSONNEL (KMPs)
Your Company has not Appointed company secretary & Chief Financial
Officer (KMPs) as required under section 203 due to meager business
revenues
D. BOARD EVALUATION:
Pursuant to the provisions of the Companies Act, 2013 and Clause 49 of
the Listing Agreement, the Board has devised a policy on evaluation of
performance of Board of Directors, Committees and Individual directors.
The extract of thepolicies are provided along with board evaluation
template is in "Annexure II"
9. DIRECTORS' RESPONSIBILITY STATEMENT
In accordance with the provisions of Section 134(5) of the Companies
Act 2013, your directors confirm that:
a) In the preparation of the annual accounts for the financial year
ended 31st March, 2015, the applicable accounting standards had been
followed along with proper explanation relating to material departures;
b) The directors had selected such accounting policies and applied them
consistently and made judgments and estimates that are reasonable and
prudent so as to give a true and fair view of the state of affairs of
the Company as at 31st March, 2015 and of the profit /loss of the
Company for that period;
c) The directors had taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of the Companies Act 2013 for safeguarding the assets of the
company and for preventing and detecting fraud and other
irregularities;
d) The directors had prepared the annual accounts on a going concern
basis;
e) 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.
f) 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.
10. DETAILS IN RESPECT OF ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH
REFERENCE TO THE FINANCIAL STATEMENTS:
The Company has internal financial controls which are adequate and were
operating effectively. The controls are adequate for ensuring the
orderly & efficient conduct of the business, including adherence to the
company's policies, the safe guarding of assets, the prevention and
detection of frauds and errors, the accuracy and completeness of
accounting records and timely preparation of reliable financial
information.
11. STATUTORY AUDITORS:
Pursuant to the resolution passed by the members in their 20th Annual
General Meeting held on 29.09.2014, M/s P Srinivasan & Co., Chartered
Accountants, the statutory Auditors of the Company to hold the office
till the conclusion of the annual general meeting of the company to be
held in the calendar year 2017 subject to ratification every year.
Accordingly, the Company has received written consent and a certificate
from them to the effect that such appointment if made within the limits
as prescribed under Section 139 of the Companies Act, 2013 read with
the respective Rules. The Board recommends for ratification for their
appointment.
12. 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 Company had appointed Shri. Ajay S
Shrivastava, Practicing Company Secretary, Hyderabad to undertake the
Secretarial Audit and certify the same for the Company.
As regrading appointment of KMPs, the same is clarified in point 8(C)
above.
The Secretarial Audit Report is provided as "Annexure III".
The qualifications made in the Secretarial Audit Report are clarified
hereunder-
13. EXPLANATION TO THE QUALIFICATIONS/RESERVATIONS /ADVERSE REMARKS IF
ANY, MADE BY STATUTORY AUDITORS AND SECRETARIAL AUDITORS IN THEIR
REPORT:
Since there are no qualification, reservation, adverse remark or
disclaimer made by the statutory auditor in his report and / or by the
Secretarial Auditor in the Secretarial Audit report, there is no need
to give any explanation by the Board in this report.
14. MANAGERIAL REMUNERATION:
A statement containing the details of is given as Annexure 'E' forming
part of this Report
The details of Remuneration paid to the Directors, KMP's and Employees
as required under Section 197(12) of the Companies Act, 2013 read with
Rule 5 of the Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014 are given in Form mGt-9 forming part of the
Directors Report and Corporate Governance Report, and same are Nil
15. DETAILS OF SIGNIFICANT & MATERIAL ORDERS PASSED BY THE REGULATORS
OR COURTS OR TRIBUNAL
During the year under review, there has been no significant and
material orders passed by any regulators or courts or tribunal.
16. PARTICULARS OF EMPLOYEES:
There are no employees drawing remuneration as prescribed under Section
197 of the Companies Act, 2013. Hence the details are NIL
17. ANTI SEXUAL HARASSMENT POLICY:
Your Company has female employees and the majority of working staff/
employees arescattered and mobile in nature, hence, there lies no
question of sexual Harassment and neither any complaints
received/resolved or pending.
However, the Company adopts the Policy on prevention, prohibition and
redressal of sexual harassment at workplace in line with the provisions
of the Sexual Harassment of Women at workplace(Prevention, Prohibition
and Redressal) Act, 2013 and the Rules thereunder.
18. STATEMENT CONCERNING DEVELOPMENT AND IMPLEMENTATION OF RISK
MANAGEMENT POLICY OF THE COMPANY
The Company does not have any Risk Management Policy as the elements of
risk threatening the Company's existence are very minimal.
19. ESTABLISHMENT OF VIGIL MECHANISM:
Your Company has laid down Whistle Blower Policy covering Vigil
Mechanism with protective Clauses for the Whistle Blowers. The Policy
is annexed to this Report as Annexure IV. The Whistle Blower Policy is
made available on the website of the Companywww.senthilinfo.com
20. PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:
There are no related party transactions.
21. CORPORATE SOCIAL RESPONSIBILITY (CSR)
Since during the financial year under review, the Company's performance
does not attract
the provisions set under Section 135 of the Companies Act, 2014 read
with rules made thereunder, hence, the compliance to the to the
provisions of Section 135 of the Companies Act, 2013 read with
Companies (Corporate Social Responsibility) Rules, 2014, is not
required.
22. CORPORATE GOVERNANCE CERTIFICATE:
Your Company has been constantly reassessing and benchmarking itself
with well- established Corporate Governance practices besides strictly
complying with the requirements of Clause 49 of the Listing Agreement
and applicable provisions of Companies Act, 2013.
A report on Corporate Governance covering among others details of
meetings of the Board and Committees along with a certificate for
compliance with the Clause 49 of the Listing Agreement issued by the
Practicing Company Secretary- Shri. Ajay S Shrivastava, forms part of
this Annual Report.
Your Board has in accordance with the requirements of Companies Act,
2013 and Clause 49 of the Listing Agreement has adopted new policies
and amended existing policies such as policy on Related Party
Transaction, Code of Conduct for Directors and Senior Management,
Corporate Social Responsibility Policy and Whistle Blower and Vigil
Mechanism Policy. These policies are available on the website of the
Company and can be viewed on www.senthilinfo.com
I. AUDIT COMMITTEE:
The Board has constituted the Audit Committee. The composition, powers,
role and terms of reference of the Committee are in accordance with the
requirements mandated under Section 177 of the Companies Act, 2013 and
Clause 49 of the Listing Agreement. The details of the Audit Committee
along with Meetings held during the year are covered in the Clause 7 of
the Corporate Governance Report in ANNEXURE IV
II. NOMINATION AND REMUNERATION COMMITTEE-ANNUXERE V
In compliance with the requirements of Section 178 of the Companies
Act, 2013, the Nomination & remuneration Committee of your Board had
fixed various criteria for nominating a person on the Board which inter
alia include desired size and composition of the Board, age limits,
qualification / experience, areas of expertise and independence of
individual. Your Company has also adopted a Remuneration Policy,
salient features whereof is annexed to this report. Annexure V
23. LISTING:
The shares of your Company are listed at BSE Ltd and Madras Stock
Exchange Limited (De-Recognized). The Company has duly complied with
all the applicable provisions of the Listing Agreement.
24. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO
The particulars as prescribed under Section 134(3) (m) of the Companies
Act, 2013 read with Rule 8 of the Companies (Accounts) Rules, 2014 are
provided in "Annexure VIM" which forms part of this report.
CONSERVATION OF ENERGY :
1 the steps taken or impact on conservation of energy
2 the steps taken by the company for utilizing alternate sources of
energy
Your Company, being a service provider, requires minimal energy
consumption and every endeavor is made to ensure optimal use of energy,
avoid wastages and conserve energy as far as possible
3 the capital investment on energy conservation equipment's
TECHNOLOGY ABSORBTION:
1. The efforts made towards technology absorption
Since the Company is not engaged in any manufacturing, the information
in connection with technology absorption is Nil.
2. The benefits derived like product improvement, cost reduction,
product development or import substitution
3. In case of imported technology (imported during the last three
years reckoned from the beginning of the financial year)- - the details
of technology imported the year of import;
* whether the technology been fully absorbed
* if not fully absorbed, areas where absorption has not taken place,
and the reasons thereof
3. The expenditure incurred on Research and Development
FOREIGN EXCHANGE EARNINGS AND OUTGO:
Particulars of foreign currency earnings and outgo during the year are
NIL.
25. DISCLOSURES
i. Particulars of loans, guarantees and investments:
Particulars of loans, guarantees and investments made by the Company
required under section 186 (4) of the Companies Act, 2013 are contained
in Note No. 13 to the Standalone Financial Statements.
ii. Transactions with Related Parties:
There are no related party transactions.
iii. Unclaimed Dividend:
During the year under review, in terms of provisions of Investors
Education and Protection Fund (Awareness and Protection of Investors)
Rules, 2014, unclaimed dividend declared by the Company is Nil.
iv. Subsidiaries & joint ventures:
The company neither has any subsidiaries nor entered into joint venture
with any Company or institution during the year under review
v. Employee stock options & sweat equity shares:
During the year under review, the Company has not issued any Employee
Stock Options and sweat Equity shares
vi. Extract of the Annual Return:
Pursuant to the provisions of Section 134(3)(a) of the Companies Act,
2013, the extract of the Annual Return in Form MGT-9 is attached as
Annexure VII
26. ACKNOWLEDGEMNENTS:
Your directors take this opportunity to express their gratitude for the
assistance and co- operation extended by Government Authorities,
Bankers and other business associates along with our estimated
Shareholders and employees.
For and on behalf of the Board
SENTHIL INFOTEK LIMITED
Sd/-
Chellamani Pitchandi
Managing Director
DIN: 01256061
Sd/-
Seetha Lakshmi Pitchandi
Date: 26.08.2015 Director
Place: Hyderabad DIN:02779034
Mar 31, 2014
The Members
SENTHIL INFOTEK LIMITED
The Directors present the 20th Annual Report of the Company together
with the Audited Balance Sheet and Statement of Profit and Loss for the
year ended 31stMarch, 2014.
1. FINANCIAL RESULTS:
During the year, the Company carried on its operations on software and
dataprocessing operations with the following results.
(Rupees in Lakhs)
Particulars 31.03.2014
Income from Operations ( Incl Other Income) 10.47
Net profit before Taxes 0.59
Net profit after Taxes 0.41
2. OPERATIONS:
During the year under review, although the revenue from operations were
reduced to Rs. 10.30 Lakhs as against Rs. 19.16 Lakhs in the previous
year, the Net profit after tax has increased to Rs. 0.41 Lakhs. Owing
to the Company''s initiative for marginalizing its resources to
productive use, the Company has substantially decreased its expenses
from Rs. 19.39 lakhs to Rs. 9.88 Lakhs.The Company has undertaken
software development and processing works during the year.
3. FUTURE OUTLOOK:
The changing economic and business conditions followed by evolving
consumer/client preferences and rapid technological innovations and
adopting, the Company is making efforts for creating an increasingly
receptive market in the present IT Sector. Thus, the current driving
motto of all IT sectors Companies is to transform their operation and
business undertakings in the most productive manner and earn returns.
On the other hand, it is said that the Indian IT outsourcing sector''s
exports may grow by 12-14 per cent, an optimistic estimate, in the
current financial year, instills the investors and the management of
the Companies about their
secured investment and flow of more funds for projects. Also, owing to
the political transparency and separation of state hood, shall allow
the Companies to plan and execute their projects in efficient manner.
The company is focused to unlock such demand and undertake new projects
with low investment, thereby promising the yields and better market
capitalization in the said industry.
4. DIVIDEND:
Due to inadequacy of profits, your Directors do not recommend any
dividend for the Financial year ended 31.03.2014.
5. DIRECTORS:
Pursuant to the provisions of Section 152 (6)(a) of the Companies Act,
2013, Mr. Chellamani Pitchandi and Shri. Senraj Muthiah Sennavanadi,
Directors retire by rotation at theensuing Annual General Meeting and
being eligible, offerthemselves for re-appointment.
Pursuant to the notification of Section 149 and other applicable
provisions of the Companies Act, 2013 read with rules thereon and the
Clause 49 of the Listing Agreement, the Independent Directors viz.
Shri. Sreehari Ankemand Mrs. D. Saradaare proposed to be appointed as
Independent Directors for five years from the date of ensuingAnnual
General Meeting.
6. AUDITORS:
M/s P. Srinivasan & Co., Chartered Accountants, Secunderabad retire as
statutory Auditors of the Company at the ensuing Annual General Meeting
and being eligible,offer themselves for re-appointment for holding
office from this Meeting until the conclusion of the next Annual
General Meeting. The Board of Directors shall fix their remuneration as
per the terms agreed upon.
Pursuant to the Companies (Audit & Auditors ) Rules, 2014, the Board
recommends the appointment of Statutory Auditors to hold office for
next Three Years, subject to ratification at the every Annual General
Meeting of the Company.
7. FIXED DEPOSITS:
Your Company has not accepted fixed deposits from public or its
shareholdersduring the year under review.
8. DIRECTORS RESPONSIBILITY STATEMENT:
In accordance with the provisions of Section 134(5) of the Companies
Act,2013, Your Directors report:
i. That in the preparation of the Annual accounts, the applicable
accounting standards have been followed along with proper explanation
relating to material departure.
ii. That your Directors have selected appropriate accounting policies
and applied them consistently and made judgements and estimates that
are reasonable and prudent so as to give a true and fair view of the
state of affairs of the Company at the end of the financial year and of
the profit and loss account of Company for that period.
iii. That your 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
your Company and for preventing and detecting any frauds and other
irregularities.
iv. That your Directors have prepared the Annual Accounts on going
concern basis for the Financial Year ended 31.03.2014 and
v. That your directors had laid down internal financial controls to be
followed by the Company and that such internal financial controls are
adequate and were operating efficiently.
vi. That your Directors had devised proper systems to ensure the
compliance with the provisions of all applicable laws and that such
systems were adequate and operating efficiently.
9. PARTICULARS OF EMPLOYEES:
During the year under review, there were NIL employees drawing
remuneration above the limits specified under Section 217(2A) read with
the Companies (Particulars of Employees) Rules, 1975 as amended.
10. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO:
Pursuant to the provisions of Section 134(3)(m) of the Companies Act,
2013 read with Rule 8 of Companies (Accounts) Rules, 2014, the
particulars of conservation of energy, technology absorption and
foreign exchange earnings and outgo are NIL.
11. RESEARCH AND DEVELOPMENT:
The Company continually invests in Research and Development of new
products and services, designs, frameworks, processes and
methodologies. This effort creates a strong quality culture, enhances
productivity and customer satisfaction. The goal of research and
development is to create new knowledge. The purpose of a research group
in a company is to create new knowledge the company can use to improve
the business. Research is typically not a business or a profit center
but a long term investment, which helps a company to generate more
revenue and profits. A technology player needs research simply to
develop new technologies that it can then use to bring out newer
products in the market place. Research and Development strategies are
linked with those of the entire organization such that product
development drives business value throughout its functional
departments.
12. LISTING:
The shares of your Company are listed at BSE Limited and Madras Stock
Exchange ( Now de-funct) .
13. SUBSIDIARY COMPANY:
There are no subsidiaries to your Company as on the date of report.
14. CORPORATE GOVERNANCE REPORT:
The Company is committed to maintain the highest standards of corporate
governance and adhere to the corporate governance requirements set out
by SEBI. The Report on corporate governance as stipulated under Clause
49 of the Listing Agreement forms part of the Annual Report.
The requisite certificate from the Practicing Company Secretary
confirming compliance with the conditions of corporate governance as
stipulated under the aforesaid Clause 49 is attached to the report on
Corporate governance.
15. MANAGEMENT DISCUSSION AND ANALYSIS (MDA):
MDA is provided as a separate section in the annual report.
16. NOMINATION & REMUNERATION COMMITTEE:
The Board has constituted Nomination & Remuneration Committee
consisting of 3 Non- executive Independent Directors. The terms of
reference of the Committee cover nomination of members to the Board,
evaluation of compensation and benefits for Executive Director(s),
Non-Executive Director(s) and looking after the issues relating to
employees remuneration.
During the financial year 2013-14 (nine months period ended
31.03.2014), there were no meetings of the Committee since no
remuneration is paid to any Director.
17. ACKNOWLEDGEMENTS:
Your Directors take this opportunity to express their grateful
appreciation for theco-operation and assistance by Government
Authorities, Bankers and otherbusiness associates as well as
shareholders and employees.
For and on behalf of the Board
SENTHIL INFOTEK LIMITED
Sd/-
C. PITCHANDI
Managing Director
Sd/-
Date: 14.08.2014 P. SEETHALAKSHMI
Place: Secunderabad Director
Mar 31, 2012
The Directors present the Eighteenth Annual Report of the Company
together with the Audited Accounts for the year ended 31 March 2012.
1. FINANCIAL RESULTS:
During the year, the Company carried on its operations on software and
data processing operations with the following results.
(Rupees in Lakhs)
Income earned 11.58
Net profit before Taxes 2.45
Net profit after Taxes 1.71
2. OPERATIONS:
During the year under review, the revenue of the Company has increased
to more than 100% to Rs. 9.94 lacs. The increase in revenue is due to
increase in sales and other income of the company. The net profit also
reflects the same and rose to Rs. 1.70 Lacs. Senthil Infotek Ltd has
been engaged in software development and processing.
3. FUTURE OUTLOOK:
The Indian information technology (IT) industry has played a major role
in placing India on the international map. The domestic IT services
market in India is estimated to grow from $ 5.7 billion in 2008 to
$12.8 billion in 2013, which represents a Compound Annual Growth Rate
(CAGR) of 18.6 percent, The current scenario in the IT industry of
India and the tremendous growth registered in recent years has
generated much optimism about the future of the Indian Information
technology industry.
The Company is poised to explore the avenues being created out of
demand for IT services in all walks of life with focus on Engineering
and Computer Aided Designing which promises to be a huge market due to
major infrastructure development initiatives by the Governments with
Private partnerships.
4. DIVIDEND:
Due to inadequacy of profits, your Directors do not recommend any
dividend for the year under review.
5. DIRECTORS:
Pursuant to the provisions of Section 256 of the Companies Act, 1956,
Shri. A. Sreehari and Shri. S. Senraj Muthaiah, Directors retire by
rotation at the conclusion of the ensuing Annual General Meeting and
being eligible, offer themselves for re-appointment.
During the year, the Board has appointed Smt. Dittakavi Sarada as
Additional Director after receiving her consent to act as Director in
their meeting held on 22nd February, 2012 and a notice has been
received u/s 257 for her appointment as Director liable to retire by
rotation. The Board recommends her appointment.
6. AUDITORS:
M/s P. Srinivas & Co., Chartered Accountants, Hyderabad retire as
statutory Auditors of the Company at the ensuing Annual general Meeting
and being eligible, offer themselves for re-appointment for holding
office until the conclusion of next Annual General Meeting. The Board
of Directors shall fix their remuneration as per the terms agreed upon.
7. FIXED DEPOSITS:
Your Company has not accepted fixed deposits from public or its
shareholders during the year under review.
8. DIRECTORS RESPONSIBILITY STATEMENT:
In accordance with the provisions of Section 217(2AA) of the Companies
Act, 1956, Your Directors report:
(i) That in the preparation of the Annual accounts, the applicable
accounting standards have been followed.
(ii) That your Directors have selected appropriate accounting policies
and applied them consistently so as to depict a true and fair view of
the state of affairs of the Company at the end of the financial year
and of the profit and loss account for that period.
(iii) That your Directors have taken proper and sufficient care with
respect to the maintenance of required and mandated records under the
provisions of the Companies Act, 1956 for safeguarding the assets of
your Company and preventing and detecting any frauds and other
irregularities.
(iv) That your Directors have prepared the Annual Accounts for the
Financial Year ended 31.03.2012 as per the going concern concept.
9. PARTICULARS OF EMPLOYEES:
During the year under review, there were NIL employees drawing
remuneration above the limits specified under Section 217(2A) read with
the Companies (Particulars of Employees) Rules, 1975 as amended.
10. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO:
Pursuant to the provisions of Section 217(1) (e) of the Companies Act,
1956, the particulars of conservation of energy and technology
absorption are annexed hereto and Foreign exchange earnings and outgo
are NIL.
11. RESEARCH AND DEVELOPMENT:
A software products companyÃs lifeblood is research and development. It
generates the product sets for the CompanyÃs sales and has an ongoing
relationship with the product post-release through patches and
upgrades. To foster innovation and remain competitive, a software
company leadership must acknowledge Research and Development
DepartmentÃs vital role within the organization, and partner with them
to achieve transparent accountability for its projects. Research and
Development strategies are linked with those of the entire organization
such that product development drives business value throughout its
functional departments.
We continually invest in Research and Development of new products and
services, designs, frameworks, processes and methodologies. This effort
creates a strong quality culture, enhances productivity and customer
satisfaction. We have a dedicated team working full time on Research
and Development activities.
12. LISTING:
The shares of your Company are listed at Bombay Stock Exchange and
Madras Stock Exchange.
13. SUBSIDIARY COMPANY:
There are no subsidiaries to your Company as on the date of report.
14. CORPORATE GOVERNANCE REPORT:
Your Company has complied with the provisions of Clause 49 of the
Listing Agreement as amended for Corporate Governance. The Corporate
Governance Report is included in this Annual Report. The auditorÃs
certificate on compliance is also annexed to this report.
15. ACKNOWLEDGEMENTS:
Your Directors take this opportunity to express their grateful
appreciation for the co-operation and assistance by Government
Authorities, Bankers and other business associates as well as
shareholders and employees.
For and on behalf of the Board
SENTHIL INFOTEK LIMITED
Sd/-
C. PITCHANDI
Managing Director
Sd/-
P. SEETHALAKSHMI
Director
Place: Secunderabad
Date : 03.09.2012
Mar 31, 2010
The Directors present the Sixteenth Annual Report of the Company
together with the Audited Accounts for the year ended 31 March 2010.
Financial Results
During the Year the company started its operations on software and data
processing operations with the following results.
Income earned 4,57,964
Net profit before Taxes 75,964
Net profit after Taxes 52,491
Since the floriculture activity is not having very good prospects your
directors are continuing the Agro based activity and have disposed off
part of the surplus land.
Corporate Governance
Your Company has complied with the recommendations of the Kumara
Mangalam Birla Committee on Corporate Governance constituted by SEBI.
Explanations have been given regarding the reasons for non-compliance
if any. The Corporate Governance Report is included in this Annual
Report. The auditor's certificate on compliance is annexed to this
report.
Directors
During the year Sri A Srihari and Sri S.Senraj Muthaiah retire by
rotation and being eligible: offer themselves for re-appointment.
Directors Responsibility Statement. In terms of 217(2AA) of the
Companies Act. 1956. your Directors state that
1. Applicable Accounting Standards have been followed, in the
preparation of annual accounts.
2. Such Accounting policies had been selected and consistently applied
and that they 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 company for
the year
3. Proper and sufficient care had been taken for the maintenance of
adequate accounting records in accordance with the provisions of this
Act for safe guarding the assets of the company and for preventing and
detecting fraud and other irregularities. -
4. The Annual Accounts for the Company have been prepared on a going
concern basis.
Auditors
The Company's Auditors M/s. P. Srinivasan & Co. Chartered Accountants,
retire at the conclusion of the ensuing Annual General Meeting and are
eligible for re- appointment.
Conservation of energy, technology absorption and foreign exchange
earnings outgo.
There are no particulars to be furnished as the company is yet to
commence commercial operation..
Particulars of Employees
The company has no employee drawing salary exceeding the specified
limit of Rs.24.00 lacs per annum or Rs. 2.00 lacs per month, to be
furnished as required under section 217(2A) of the companies Act, 1956
read with the companies (Particulars of Employees) Rules 1975.
Appreciation
Your directors wish to thank the company's bankers for their continued
support. The Directors also take this opportunity to thank the
fraternity of shareholders for their continued confidence reposed in
the management of the company.
Your Directors thank the various departments of the State and Central
Governments and look forward to their continued support in the future.
For and on behalf of the Board
Secunderabad P. SeethaLakshmi C.Pitchandi
August 1,2010 Director Managing Director
Mar 31, 2009
The Directors present the Fifteenth Annual Report of the Company
together with the Audited Accounts for the year ended 31 March 2009.
Financial Results
During the Year. the company started its operations on software and
data processing operations with the following results.
Income earned 5,43,755
Net profit before Taxes 92,859
Net profit after Taxes 62,606
Since the floriculture activity Is not having very good prospects your
directors are continuing the Agro based activity and have disposed off
part of the surplus land.
Corporate Governance
Your Company has complied with the recommendations of the Kumar
Mangalam Birla Committee on Corporate Governance constituted by SEBI.
Explanations have been given regarding the reasons for non-compliance
If any. The Corporate Governance Report Is Included In this Annual
Report. The auditor's certificate on compliance is annexed to
this report.
Directors
During the year Mrs. P, Seetha Lakshmi retires by rotation and being
eligible: offers herself for reappointment. During the year Mrs. D.
Surekha retires by rotation and being eligible offers herself for
re-appointment
Directors Responsibility Statement. In terms of 217(2AA) of the
Companies Act.1956. your Directors state that
1. Applicable Accounting Standards have been followed, in the
preparation of annual accounts.
2. Such Accounting policies had been selected and consistently applied
and that they 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 company for
the year.
3. Proper and sufficient care had been taken for the maintenance of
adequate accounting records In accordance with the provisions of this
Act for safe guarding the assets of the company and for preventing and
detecting fraud and other irregularities.
4. The Annual Accounts for the Company have been prepared on a going
concern basis.
Auditors
The Company's Auditors M/s. P. Srivasan & Co. Chartered Accountants,
retire at the conclusion of the ensuing Annual General Meeting and are
eligible for re- appointment,
T-anservation of energy, technology absorption and foreign exchange
earnings outgo.
There are no particulars to be furnished as the company Is yet to
commence commercial operation..
Particulars of Employees
The company has no employee drawing salary exceeding the specified
limit of Rs.24.00 lacs per annum or Rs. 2.00 lacs per month, to be
furnished as required under section 217(2A) of the companies Act, 1956
read with the .companies (Particulars of Employees) Rules 1975.
Appreciation
Your directors wish' to thank the company's bankers for their continued
support. The Directors also take this opportunity to thank the
fraternity of shareholders for their continued confidence reposed In
the management of the company. Your Directors thank the various
departments of the State and Central Governments and look forward to
their continued support in the future.
For and on behalf of the Board
Secunderabad P. SeethaLakshmi C. Pitchandi
August 1,2009 Director Managing Director
Disclaimer: This is 3rd Party content/feed, viewers are requested to use their discretion and conduct proper diligence before investing, GoodReturns does not take any liability on the genuineness and correctness of the information in this article