Mar 31, 2014
Dear Members.
The Directors have pleasure in presenting the Annual Report on the
business and operations of Company together with the Audited Statement
of accounts for the year ended on 31st March, 2014.
Financial and Operational Results
Financial and operational Results of Company tor the year ended 31st
March; 2014 are mentioned hereunder:
{Amt in Rs.)
Particulars Current Financial Year Previous Financial Year
31st March. 2014 3lst Marh.2013
Total Income 12.11.200 12,10.700
Iess: Expenses 2,40.825 1.32,861
Profit/ (loss) before Tax 9,70,375 10,77.839
Less: Provision for Tax NiL Nil
Net Profit/ (Net Loss}
after Tax 9,70,375 10.77,839
Add:. Balance of Profit
brought 1,77,13,656 1.66,35,817
forward from
previous year
Total Reserves and
Surplus 1,86.84,031 1,77,13,656
Performance of the Company:
During the year under review, .your Company earned a lolal Income of
Rs. 12,1 1,200/- and the total expenditure amounted to Rs. 2,40.825/r.
Thus profit tamed by Company is Rs, 9,70,375/. The accumulated Balance
carried forward to the Reserves and Surplus of Companv Stands at
Rs.|,S6,S4,''03l/-.
Dividend:
Your Directors have not recommended for any dividend for iheyear under
review with 5 view to conserve the resources of Company.
Directors:
Mr. Jayesh R. Rhansali, Director of the Company shall he liable !o
retire by rotation al the forthcoming Annua I. General Meeiing and is
eligihle for reappointment. The Board recommends his re-appointment.
Statutory Auditors:
M/s R, L. Dasharda & Associates, Chartered Accountants (Firm
Registration No: l|2filSW), the Statutory Auditors of the Company will
retire al tlie ensuing Annual General Meeting and have confirmed iheir
eligibility and willingness to iaeeept office, if re-appointed.
Your Electors recommend .the apiwintmem M/s B. L. Dasharda &
Associates, Chartered Accountants. as Statutory Auditors of company for
the year 2014-2015.
A witters'' Report:
["lie observations made by .the Auditors- in iheir Report read with the
relevant notes as given irr the: ''Notes to the Financial Statement for
the year ended 31st March, 2014 are self explanatory and l>emg devoid
of any reservation, qualification or adverse remarks, does'' not call
for any further'' in forma! ion/explanation under Section 217(3) of the
Companies Act,, 1956.
SECRETARIAL A UP/TORS:
MA. Kathr & Associates, Practicing Company Secretaries, have been
appointed as Secretarial Auditor of Company for FY 2014-15. who will
conduct the requisite Secretarial audit of the company.
Deposits:
The Company has not accepted any Deposit, within the meaning of Section
58 A of the Companies Act. 1956 read with [he Companies (Acceptance of
Deposit) Rules. 1975 from the puhtie during-, the year under review.
Secretarial Compliant!! Certificate:
Pursuant to ihe proviso of Section 383 A (1) of the Companies Act, 1956
read with the. Companies (Compliance Certificate) Rules 2001,(he
Secretarial Compliance Certificate obtained from M/s. Rathi &.
Associates. Company Secretaries in Whole-time Practice. is annexed to
this report forming it$ integral pari.
Particulars of Employees:
During the year .ended 31st March, 20M, no. employee of the company was
in receipt of remuneration equal to or. exceeding ihe limits as
prescribed under Sect''ion 217(2A) of the Companies Act. 1956 read with
the Companies (Particulars of Employees) Rules. 1975 as amended, hence
no statement is required to be annexed irt this regard.
Ctftiservatmit a I'' finerev. Tecfiitotogy Absorption. Foreign Exchange
Earnings and Outeo:
Ihe requirements of disclosures in terms of Section 217 {}) ic) of the
Companies Act. 1956, read with the Companies (Disclosure* of the
Particulars in the Report of Ihe Board of Directors) Rules, I yS8
pertaining to the conservation of energy and technology absorption are
not applicable to the Company due to the very nature ol''the industry in
which the Company operates.
During rhi: year under review; there was no foreign exchange earnings
and outgo.
Directors'' Responsibility Statement:
Pursuant io Section 2I7(2AA} of rhe Companies. AcL 1956. your Director
based on the representations received from the management and after due
inquiry-, confirm that:
In the preparation or the Annual Accounts, the applicable Accounting
Standards have been followed and no deviations.have-been made.
That (be Directors have selected such accounting policies and applied
ihem consistently and made judgments and estimates that arc reasonable
and prudent so as to give a true and fair view of the state of affairs
of the Company ai the end of the financial year and of the profit or
the Company lor thin year.
That the Directors have taken proper and sufficient care for (he
maintenance of adequate, accounting records in accordance with the
provisions of this Act for safeguarding the assets of the Company and
for. preventing and detecting fraud and other irregularities
That the Directors have prepared the Annual Accounts far the year
ended 31st March. 2014 on a going concern basis,
Acknowledgement:
Your Directors wish to place on record their deep appreciation and
heartfelt thanks to the Banks. Statutory Authorities, Government.
Customers, Vendors, Stakeholders and other related organizations who
through their continued support and patronage have enabled the company
to function smoothly and grow in such competitive environment. Your
Directors express their deep appreciation to the Company''s employees at
all levels for their hard work,, dedicaiion. commilment outstanding
efforts and valuable contributions made in all spheres of the
operations of Company.
For and of the Board of Directors.
Place: Mumbai
Dated: 30th May, 2014 Mr. B M Bhansali Mr. Jayesh B. Bhansali
Director Director
(DIN: 00102930) (DIN- UWG2S53)
Mar 31, 2013
Dear Members,
The Directors have pleasure in presenting the Annual Report on the
business and operations of Company together with the Audited Statement
of accounts for the vcar ended on 31s1 March. 2013.
Financial and Operational Results:
Financial and operational Results of Company for the year ended 3lsl
March, 2013 arc as mentioned hereunder:
(Ami in Rs.)
Particulars Current
Financial
Year Previous
Financial
31st March,
2013 Year 3st Marh,
2012
Total Income 12,10,700 12,27,784
Less Expenses 132,861 819,102
Profit/ (Loss) before Tax 10,77,839 4,08,682
Less. Provision for Tax NIL NIL
Net Profit/ (Net Loss) after Tax 10,77,839 4,08,682
Add; Balance of Profit brought
forward from 1,6635,817 1,62,27,135
previous year
Total Reserves and Surplus 1,77,13,656 1,6635,817
Performance of the Company:
During the year under review, your Company earned a total Income of Rs.
12,10,700/- and the total expenditure amounted to Rs 1,32,861/-. Thus
profit earned by Company is Rs. 10,77,839/-. The accumulated Balance
carried forward to the Reserves and Surplus of Company stands at Rs
1,77.13,656/-.
Dividends
Your Directors have not recommended for any divided for the year under
review with a view to conserve the resources of Company.
Directors:
Mr. L.M. Bhansali, Director of the Company shall be liable to retire by
rotation at the forthcoming Annual General Meeting and is eligible for
rc-appoinlmenl. The Board recommends for his re-appoinlment.
Directors'' Responsibility Statement:
Pursuant to Section 217(2AA) of the Companies Act, 1956, your Directors
based on the representations received from the management and after due
inquiry, confirm that;
¦ In the preparation of the Annual Accounts, the applicable Accounting
Standards have been followed and no deviations have been made.
¦ That the Directors have selected such accounting policies and applied
Ihem 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 that year.
¦ That the Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of this Act for safeguarding the assets of the Company and
for preventing and detecting fraud and other irregularities.
¦ That the Directors have prepared the Annual Accounts for the year
ended 31" March. 2013 on a going concern basis.
Statutory A utlifors:
M/s B. L Dasharda & Associates, Chartered Accountants (Firm
Registration No; H2615W), the Statutory Auditors of the Company will
retire at the ensuing Annual General Meeting and have confirmed their
eligibility and willingness to accept office, if re-appointed.
Your Directors recommend the appointment M/s B. L. Dasharda &
Associates. Chartered Accountants, as Statutory Auditors of company for
the year 2013-2014.
A uditors'' Report:
The observations made by the Auditors in their Report read with the
relevant notes as given in die Notes to the Financial Statement for the
year ended 3ISI March, 2013 are self explanatory and being devoid of
any reservation, qualification or adverse remarks, docs not call for
any further information/explanation under Section 217(3) of the
Companies Act, 1956.
Deposits:
The Company has not accepted any Deposit, within the meaning of Section
58A of the Companies Act, 1956 read with the Companies (Acceptance of
Deposit) Rules, 1975 from the public during the year under review.
Secretarial Compliance Certificate:
Pursuant to the proviso of Section 383 A (1) of the Companies Act. 1956
read with the Companies (Compliance Certificate) Rules 2001,the
Secretarial Compliance Certificate obtained from M/s. Rathi &
Associates. Company Secretaries in Whole-time Practice, is annexed to
this report forming its integral part.
Particulars of Employees:
During the year ended 31s'' March, 2013, no employee of the company was
in receipt of remuneration equal to or exceeding the limits as
prescribed under Section 2I7(2A) of the Companies Act, 1956 read with
the Companies (Particulars of Employees) Rules, 1975 as amended, hence
no statement is required to be annexed in this regard.
Conservation of Energy. Technology Absorption. Foreign Exchange
Earnings and Outeo:
The requirements of disclosures in terms of Section 217 (I) (c) of the
Companies Act. 1956, read with the Companies (Disclosures of the
Particulars in the Report of the Roard of Directors) Rules. 1988
pertaining to the conservation of energy and technology'' absorption are
not applicable 10 the Company due to the very nature of the industry in
which the Company operates.
During the year under review, there was no foreign exchange earnings
and outgo.
A cknowtedgement:
Your Directors wish to place on record their deep appreciation and
heartfelt thanks to the Banks, Statutory Authorities, Government,
Customers, Vendors, Stakeholders and other related organizations who
through their continued support and patronage have enabled the company
to function smoothly and grow in such competitive environment. Your
Directors express their deep appreciation to the Company''s employees at
all levels for their hard work, dedication, commitment, outstanding
efforts and valuable contributions made in all spheres of the
operations of Company.
For and on behalf of the Board of Directors
Place: Muinbai ,
Dated: 26,h May, 2013 Chairman
Mar 31, 2012
The Directors have pleasure in presenting their Annual Report on the
business operations of the Company together with the Audited Statement
of Accounts for the year ended on 31st March, 2012.
Financial and Operational Results:
Financial and operational Results of Company for the year ended 31st
March, 2012 are as mentioned hereunder:
(Amt in Rupees)
Particulars Year Ended Year Ended
31stMarch, 2012 31s,March, 2011
Total Income 12,27,784 41,600
Total Expenses 819102 94637
Profit/ (Loss) before Tax 4,08,682 (53,037)
Less; Provision for Tax 0 0
Less: Income Tax of earlier year 0 0
Net Profit/ (Net Loss) after Tax 4,08,682 (53,037)
Add: Balance of Profit brought
forward from 1,62,27,135 1,62,80,172
previous year
Reserves and Surplus 1,66,35,817 1,62,27,135
Dividend:
Your Directors have not recommended for dividend for the financial year
2011-2.012 with a view to conserve the resources with Company.
Directors:
Mr.Babulal M Bhansali Director of the Company shall be liable to retire
by rotation at the forthcoming Annual General Meeting and is eligible
for re-appointment. The Board recommends for his re-appointment.
Directors' Responsibility Statement: -
Pursuant to Section 217(2AA) of the Companies Act, 1956, your Directors
based on the representations received from the management and after due
inquiry, confirm that:
-in the preparation of the Annual Accounts, the applicable standards
have been followed and no deviations have been made.
- the Directors have 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 that year.
- the Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of this Act for safeguarding the assets of the Company and
for preventing and detecting fraud and other irregularities.
- the Directors have prepared the attached Statement of Accounts for
the year ended 31sl March, 2012 on a cuing concern basis.
A uditors:
à M/s B. L. Dasharda & Associates. Chartered Accountants, Auditors of
the Company retiring at the ensuing Annual General Meeting is eligible
for re-appointment. The Company has received a certificate from the
Auditors to the effect that their appointment, if made, would be within
the prescribed limits under Section 224(1B) of the Companies Act, 1956.
The Board recommends for the re-appointment of Statutory Auditors.
Auditors' Report:
The Audit Report being devoid of any qualification and self
explanatory, do not call for any further comments under Section 217(3)
of the Companies Act, 1956.
Deposits:
The Company has not accepted or renewed any deposit from public during
the year under review. Secretarial Compliance Certificate:
Pursuant to the proviso of Section 383 A (1) of the Companies Act, 1956
read with the Companies (Compliance Certificate) Rules 2001,the
Secretarial Compliance Certificate obtained from M/s. Rathi &
Associates, Company Secretaries in Whole-time Practice, is annexed to
this report forming its integral part..
Particulars of Employees:
During the year under review, none of the employees of the Company was
in receipt of remuneration equal to or exceeding the limits as
prescribed viz. Rs.60,00,000 per annum or Rs. 5,00,000 per month under
Section 217 (2 A) of the Companies Act. 1956 read with Companies
(Particulars of Employees) Rules, 1975. Hence, no statement is required
to be annexed in this respect.
Conservation of Energy, Technology Absorption. Foreisn Exchange
Earnings and Outgo:
The requirements of disclosures in terms of Section 217 (1) (e) of the
Companies Act, 1956, read , with the Companies (Disclosures of the
Particulars in the Report of the Board of Directors) Rules, 1988
pertaining to the conservation of energy and technology absorption are
not applicable to the Company due to the very nature of the industry in
which it operates.
During the year under review, there was no foreign exchange earnings
and outgo.
Acknowledgements:
The Directors wish to express their gratitude to the bankers, clients
and all the business associates for their continuous support to the
Company and to the Shareholders for the confidence reposed in the
Company's management. The Directors also convey their appreciation to
the employees at all levels for their enormous personal efforts as well
as collective contribution.
For and on behalf of the Board of Directors
Place: Mumbai
Dated: 10th August, 2012 Chairman
Mar 31, 2011
Dear Members,
The Directors have pleasure in presenting their Annual Report on the
business operations of the Company and the Audited Accounts for the
year ended 31st March. 2011.
Financial Results:
(Amt in Rupees)
Particulars Year Ended 31st Year Ended 31st
March, 2011 March, 2010
Total Income 43,014 36,356
Profit before Tax (46,466) 1.433
Less: Provision for Tax 0 0
Less: Income Tax of earlier year. 0 0
Net Profit after Tax (46,466) 1,433
Add: Balance of Profit brought
forward from 3,312,835 3.311,402
previous year
Balance carried forward to Balance
Sheet 3,266,369 3,312,835
Performance of the Company:
During the year under review, your Company earned a total Income of Rs.
43,014/- comprising mainly of Commission and Dividend. The total
expenditure incurred by the Company has amounted to Rs.89,480/-. This
has led to loss of Rs.46.466/-. The Balance carried forward to the
Balance Sheet is Rs.32,66,369/-.
Your Company continues to be cautiously optimistic about its growth
prospects for the current financial year.
Dividend:
Your Directors have not recommended payment of divided for [he year
under review with a view to conserve the resources.
Directors:
Mr. Jaycsh B Bhansali. Director of the Company, shall be liable to
retire by rotation at the forthcoming Annual General Meeting and is
eligible for re-appointment. The Board recommends his re-appointment.
Directors' Responsibility Statement:
Pursuant to Section 217(2AA) of the Companies Act 1956, your Directors
confirm the following:
æ In the preparation of the annual accounts, the applicable standards
have been followed and no deviations have been made
æ that the Directors have 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 end and of the profit
of the Company for that year.
æ that the Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of this Act for safeguarding the assets of the Company and
for preventing and detecting fraud and other irregularities.
æ that the Directors have prepared the attached Statement of Accounts
for the year ended March, 31 2011 on a going concern basis.
Auditors:
M/s. B. L. Dasharda & Associates, Chartered Accountants. Auditors of
the Company retire at the ensuing Annual General Meeting is eligible
for re-appointment The Company has received a certificate from the
Auditors to the effect that their appointment if made, would be within
the prescribed limits under Section 224(1B) of the Companies Act 1956.
The members are requested to appoint the Auditors for the current year
and authorize the Board to fix their remuneration.
Auditors' Report:
Observations made in the Auditors* Report are self-explanatory and
therefore, do not call for any further comments under Section 217(3) of
the Companies Act 1956.
Fixed Deposits:
The Company has not accepted or renewed any deposit from public during
the year under review.
Secretarial Compliance Certificate:
Pursuant to the proviso of Section 383A (I) of the Companies Act, 1956
read with the Companies (Compliance Certificate) Rules 2001.the
Secretarial Compliance Certificate obtained from M/s. Rathi &
Associates. Company Secretaries in Whole-time Practice, is attached to
this report.
Particulars of Employees:
During the year under review, none of the employees of the Company was
in receipt of remuneration aggregating Rs.60,00,000/- or more per
annum, if employed throughout the year, or Rs.5,00,000/- or more per
month, m case employed for part of the year. Hence there arc no
particulars to be annexed to this report as required under Section 217
(2 A) of the Companies Act 1956 and the rules made there under.
Conservation of Energy, Technology Absorption. Foreign Exchange
Earnings end Outgo: The requirements of disclosures in terms of Section
217
During the year under review, there was no foreign exchange earnings
and outgo.
Acknowledgements:
The Directors wish to express their gratitude to the bankers, clients
and all the business associates for their continuous support to the
Company and to the Shareholders for the confidence reposed in the
Company's management. The Directors also convey their appreciation to
the employees at all levels for their enormous personal efforts as well
as collective contribution.
For and on behalf of the Board
Place: Mumbai
Dated: 12th August, 2011 Director Director
Mar 31, 2010
The Directors have pleasure in presenting their Annual Report on the
business operations of the Company and the Audited Accounts for the
year ended 31sl March, 2010.
Financial Results:
(Amt in Rupees)
Particulars Year Ended 31st Year Ended 31st
March, 2010 March, 2009
Total Income 40,300 1,189,400
Profit/ (Loss) before Tax (4,449) 1,080,522
Less: Provision for Tax 0 0
Less: Income Tax of earlier year 0 0
Net Profit after Tax (4,449) 1,080,522
Add: Balance of Profit brought
forward from 16,284,621 15,204,099
previous year
Balance carried forward to
Balance Sheet 16,280,172 16,284,621
Performance of the Company:
During the year under review, your Company earned a total Income of Rs.
40,300/- comprising mainly of Commission and Dividend. The total
expenditure incurred by the Company has amounted to Rs. 44,749/-. This
has led to loss of Rs. 4,449/-. The Balance carried forward to the
Balance Sheet is Rs. 1,62,80,172/-.
Your Company continues to be cautiously optimistic about its growth
prospects for the current financial year.
Dividend:
Your Directors have not recommended payment of divided for the year
under review considering the loss incurred by the Company.
Directors:
Mr. Lalitkumar M. Bhansali, Director of the Company, shall be liable to
retire by rotation at the forthcoming Annual General Meeting and is
eligible for re-appointment. The Board recommends his re-appointment.
Directors' Responsibility Statement:
Pursuant to Section 217(2AA) of the Companies Act, 1956, your Directors
confirm the following:
- In the preparation of the annual accounts, the applicable standards
have been followed and no deviations have been made.
- that the Directors have 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 view of the sate of affairs of the
Company at the end of the financial year end and of the profit of the
Company for that year.
- that the Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of this Act for safeguarding the assets of the Company and
for preventing and detecting fraud and other irregularities.
- that the Directors have prepared the attached Statement of Accounts
for the year ended March, 31 2010 on a going concern basis.
Auditors:
M/s.B.L. Dasharda & Associates, Chartered Accountants, Auditors of the
Company retire at the ensuing Annual General Meeting and being eligible
offer themselves for re-appointment The Company has received a
certificate from the Auditors to the effect that their appointment made
would be within the prescribed limits under Section 224(1B) of the
Companies Act, 1956. The members are requested to appoint the Auditors
for the current year and authorize die Board to fix their remuneration.
Auditors' Report:
Observations made in the Auditors' Report are self- explanatory and
therefore, do not call for any further comments under Section 217(3) of
the Companies Act, 1956.
Fixed Deposits.
The company has not accepted or renewed any deposit from public during
the year under review.
Secretarial Compliance certificate:
Pursuant to the proviso of the Companies Act, 1956 read with the Companies
(Compliance Certificate) Rules 2001, the Secretarial Compliance
Certificate obtained from M/s. Rathi & Associates, Company Secretaries
in Whole-time Practice, is attached to this report.
Particulars of Employees:
During the year under review, none of the employees of the company was
was in receipt of remuneration aggregating Rs. 24,00,000/- or more per
annum, if employed throughout the year, or Rs. 2,00,000/- or more per
month, in case employed for part of the year. Hence there are no
particulars to be annexed to this report as required under section 217
(2A) of the companies Act, 1956 and the rules made there under.
Conservation of Energy, Technology Absorption, Foreign Exchange
Earnings and Outgo:
The requirements of disclosures in terms of Section 217 (i)(e) of the
Companies Act, 1956, read with the Companies (Disclosures of the
Particulars in the Report of the Board of Directors) Rules, 1988
pertaining to the conservation of energy and technology absorption are
not applicable to the Company due to the very nature of the industry in
which it operates.
During the year under review, there was no foreign exchange earnings
and outgo.
Acknowledgements:
The Directors wish to express their gratitude to the bankers, clients
and all the business associates for their continuous support to the
Company and to the Shareholders for the confidence reposed in the
Company's management. The Directors also convey their appreciation to
the employees at all levels for their enormous personal efforts as well
as collective contribution.
For and on behalf of the Board
Place: Mumbai
Dated: 31st May, 2010 Director Director
Mar 31, 2009
The Directors Have pleasure in presenting their Annual Report on the
business operations of the Company along with the Statement of Audited
Accounts for the year ended 31st March, 2009.
Financial Results:
(Amt. in Rs.)
Particulars Year Ended 31st Year Ended 31st
March, 2009 March, 2008
Total Income 1,189,400 1,186,680
Profit before Tax1, 080,522 1,16,3321
Less Provision for Tax 0 0
Net PROFIT (Loss) after Tax1, 080,522 1,163,321
Add Balance of Profit &
Loss A/c. brought 15,204,099 14,040,778
Forward from the previous year
Balance carried forward to
Balance Sheet 16,284,621 15,204,099
Year under Review:
During the year under review, your Company generated a total Income of
Rs.1,189,400/- comprising mainly of dividend received. Against this,
the total expenses were Rs.108,878/- incurred by the Company. This has
led to a profit of Rs.1,080,522/- as compared to Rs.1,163,321/-
before tax during the previous year. After providing for tax and
adjusting thereto the balance forward from last year of
Rs.15,204,099/-, a balance of Rs.16,284,621/- has been carried
forward to the Balance Sheet.
Your Company continues to be cautiously optimistic about its growth
prospects for the current financial year.
Dividend:
Your Directors have not recommended payment of dividend for the year
under review considering the need to improve the net worth of the
Company.
Directors:
In accordance with the provisions of the Companies Act, 1956 and the
Articles of Association of the Company, Mr. L. M. Bhansali, Director of
the Company, shall retire by rotation at the forthcoming Annual
General. Meeting and is eligible for re-appointment. , The Board of
Directors recommends his re-appointment.
Directors Responsibility Statement:
Forward to Section 217(2AA) of the Companies Act, 1956, your Directors
confirm the Following.
In the preparation of the annual accounts, the applicable standards
have been followed.
Your Directors have 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 that year.
Your Directors have taken proper and sufficient care for the
maintenance-of adequate accounting records in accordance with the
provisions of this Act for safeguarding the assets oldie Company and
for preventing and detecting fraud and other irregularities.
Your Directors have prepared the attached Statement of Accounts for the
year ended March 1, 2009 on a going concern basis.
Auditors:
M/s. B. L. Dasharda & Associates, Chartered Accountants, Auditors of
the Company retire at the ensuing Annual General Meeting and are
eligible for re-appointment. The Company has received certificate
from the Auditors to the effect that their appointment, if made, would
be within the prescribed limits under Section 224(1B) of the Companies
Act, 1956. The members are requested to appoint the Auditors and
authorise the Board to fix their remuneration.
Auditors' Report:
Observations made in the Auditors' Report are self-explanatory and
therefore, do not call for any further comments under Section 217(3) of
the Companies Act, 1956.
Fixed Deposits:
The Company has not accepted or renewed any deposit from public during
the year under review.
Secretarial Compliance Certificate:
Pursuant to the proviso to Section 383 A(l) of the Companies Act, 1956
read with the Companies (Compliance Certificate) Rules 2001,
Secretarial Compliance Certificate from M/s. Rathi & ; Associates,
Company Secretaries in Whole time Practice, is attached to this report.
Particulars Employees:
During the year under review, none of the employees of the Company was
in receipt of information aggregating Rs.24,00,000/- or more per annum,
if employed throughout the year, or Rs1,00,000 or more per month, in
case employed for part of the year. Hence, there are no Particulars to
be annexed to this report as required under Section 217 (2A) of the
Companies Act, the rules made there under,.
Conservation of Energy, Technology Absorption, Foreign Exchange
Earnings And Outgo:
The requirements of disclosures in terms of Section 217 (l)(e) of the
Companies Act, 1956, read with the Companies (Disclosures of the
Particulars in the Report of the Board of Directors) Rules 1988
pertaining to the conservation of energy and technology absorption are
not applicable to the Company due to the very nature of the industry in
which it operates:
During the year under review, there was no foreign exchange earnings
and outgo.
Acknowledgements:
The Directors wish to express their gratitude to the bankers, clients
and all the business associates for their continuous support to the
Company and to the Shareholders for the confidence reposed in the
Company's management. The Directors also convey their appreciation to
(lie employees at all -levels for their enormous personal efforts as
well as collective contribution.
For and on behalf of the Board
Place: Mumbai
Dated: 30th June, 2009 Director Director