Mar 31, 2012
The Directors have pleasure in presenting 32nd Annual Report and
Audited Accounts of your Company for year ended March 31, 2012.
OPERATIONS:
The Operation of the company have resulted in a profit of Rs.
82,04,488/- during the year ended March 31, 2012 as shown below.
FINACIAL PERFORMANCE:
Your Company's Financial Performance during the year is summarized
below.
Financial Data Results Amount in Rs.
Year ended 31st Year ended 31st
March 2012 March 2011
Profit/(loss) Before tax 1,18,56,347 (8,55,442)
Less: Provision for tax 36,51,859 -
Less: Provision for tax (Earlier Years) - 17,104
Net Profit/ (loss) after tax 82,04,488 (8,72,546)
Surplus brought from the previous year (14,78,846) 6,06,300
Surplus/ (Deficit) carried to Balance
sheet 67,25,642 (14,78,846)
DIVIDEND:
With purpose to retain profit for strengthening capital base of the
company, the Board of Directors does not recommend declaration of any
dividend for the year ended 31.03.2012
AUDITORS:
The Auditors of the Company, M/s Shankarlal Jain & Associates,
Chartered Accountants hold office until the conclusion of the ensuing
Annual General Meeting. The Company has received letter from them to
the effect that their re-appointment, if made, would be within the
prescribed limit under section 224 (1-B) of the Companies Act, 1956.
AUDITORS' OBSERVATIONS:
The observations of the auditors contained in their Report have been
adequately dealt with in the Notes to the Accounts which are
self-explanatory and therefore, do not call for any further comments.
DIRECTOR:
Mr. Harshad Dholakia, Director of the company retires at the ensuing
Annual General meeting and being eligible offers himself for
reappointment as Directors.
PARTICULARS OF EMPLOYEES:
The particulars of employees under the provision of section 217 (2A) of
Companies Act, 1956 are not given as no employees was in receipt of
remuneration exceeding Rs.60,00,000 p.a., if employed for the full year
or Rs.5,00,000 p.m if employed for the part of the year.
DIRECTORS RESPONSIBILITY STATEMENT
As required under section 217 (2AA) of the Companies Act 1956, your
directors states that
1. While preparing Annual Accounts, the applicable accounting
standards have been followed and there are no material departures.
2. The Company has selected such accounting policies and applied them
consistently and made judgments that are responsible and prudent so as
to give true and fair view of the affairs of the company at the end of
the financial year and of the profit and loss for the period ended on
that date;
3. The Company has taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of the Act for safeguarding the assets of the Company and
for preventing and detecting fraud and other irregularities.
4. The Annual Accounts has been prepared on a going concern basis.
FOREIGN EXCHANGE
The Foreign exchange earnings during the period under consideration was
NIL and the expenditure was NIL.
PARTICULARS ON CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION
This information is required as per Section 217(l)(e) of the Companies
Act, 1956 read with the Companies (Disclosure of particulars in the
Report of the Board of Directors) Rules, 1988 and forming part of the
Director's Report for the year ended March 31, 2012.
Since the Company's operations involve consumption of low energy, the
company has no comments to offer as far as (a) Conservation of energy
and (b) Technology absorptions are concerned.
HUMAN RESOURCES :-
Your Company enjoys cordial relations with its employees. The key focus
of your Company is to attract, retain and develop talent. The Board
wishes to place on record its appreciation of the contributions made by
all employees ensuring high levels of performance and growth during the
year
APPRECIATION
Your Directors wish to place their gratitude and appreciation for the
devoted service of the staff of the company and would also like to
place on record their gratitude to the company's bankers for their
continuous support.
For and on behalf of the Board,
Shree Salasar Investments Limited
Vipin Hirani Harshad Dholakia
Place: Mumbai Director Director
Date: 11th August, 2012
Mar 31, 2011
DIRECTORS REPORT TO THE SHAREHOLDERS
The Directors have pleasure in submitting their 31st Annual Report
with the audited accounts for the year ended March 31, 2011.
OPERATIONS :
The operations of the company have resulted in loss of Rs. 8,72,546/-
during the year ended March 31, 2011 as shown below
Financial data results {Amount in Rupees.)
Year ended Year ended
31st March 31st March
2011 2010
Profit /(Loss) Before Tax (8,55,442) (1,69,026)
Less: Provision for Tax - 13,500
Less: Provision for Tax (earlier years) 17,104 10,26,205
Net Profit / (Loss) After Tax (8,72,546) (12,08,731)
Surplus brought from the previous 6,06,300 75,678
year
Surplus / (Deficit) Carried to Balance (14,78,846) (6,06,300)
Sheet
DIVIDEND:
There was no profit earned during the year. In view of thereof, no
dividend has been recommended by the board for the year under review.
DIRECTOR :
Mr. K. C. Dawda, Director of the Company retires at the ensuing Annual
General meeting and being eligible offers himself for reappointment as
Directors.
Mr. Vipin H. Hirani was appointed as Additional Directors by the board
on March 23, 2011 and his appointment as director liable to retire by
rotation is being sought in the ensuing Annua! General Meeting, on
being demanded by members for which necessary notices have been
received by the Company.
INVESTMENTS :
The market value of the company's investments in the shares and
securities given in the Balance Sheet is Rs.56,250/-.
PARTICULARS ON CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION
This information is required as per Section 217(l)(e) of the Companies
Act, 1956, read with the Companies (Disclosure of Particulars in the
Report of the Board of Directors) Rules, 1988 and forming part of the
Directors' Report for the year ended March 31 2011.
Since the Company's operations involve low consumption of energy, the
Company has no comments to offer as far as (a) conservation of energy
and (b) Technology absorptions are concerned.
FOREIGN EXCHANGE :
The Foreign exchange earnings and foreign exchange expenditure during
the period under consideration was NIL.
For and on behalf of the Board of Directors of
SHREE SALASAR INVESTMENTS LIMITED
VIPIN H. HIRANI HARSHAD DHOLAKIA
DIRECTOR DIRECTOR
PLACE : MUMBAI
DATED : AUGUST 23, 2011
Mar 31, 2010
The Directors have pleasure in submitting their 30th Annual Report
with the audited accounts for the year ended March 31, 2010.
OPERATIONS :
The operations of the company have resulted in loss of Rs. 12,08,731/-
during the year ended March 31, 2010 as shown below
Financial data results (Amount in Rupees.)
Year ended Year ended
31st March 2010 31st March 2009
Profit / (Loss) Before Tax (1,69,026) 31,606
Less: Provision for Tax 13,500 8,000
Less: Provision for Tax (earlier 10,26,205 14,868
years)
Net Profit / (Loss) After Tax (12,08,731) 8,738
Surplus brought from the 75,678 66,940
previous year
Surplus / (Deficit) Carried to (6,06,300) 75,678
Balance Sheet
DIVIDEND :
There was no profit earned during the year. In view of thereof, no
dividend has been recommended by the board for the year under review.
DIRECTOR ;
Mr. K. C. Dawda was appointed as Director in casual vacancy caused due
to death of Mr. R. K. Mansingka, Director w.e.f. February 14, 2010.
Mrs. Sarita Mansingka, Director of the Company retires at the ensuing
Annual General meeting and being eligible offers himself for
reappointment as Directors.
Mr. Harshad Dholakia was appointed as Additional Directors by the board
on August 12, 2010 and his appointment as director liable to retire by
rotation is being sought in the ensuing Annual General Meeting, on
being demanded by members for which necessary notices have been
received by the Company.
INVESTMENTS ;
The market value of the companys investments in the shares and
securities as per schedule 4 given in the Balance Sheet is Rs.2,375 /-.
Besides the company holds investments in unquoted shares of Rs.50,000
/-.
AUDITORS AND AUDITORS OBSERVATIONS ;
M/s. Shankarlal Jain and Associates, Chartered Accountants, retires as
auditors of the Company at the ensuing Annual General Meeting and offer
themselves for reappointment.
With regard to the Auditors observations, the same have been duly
explained in the notes, hence does not require any further
clarifications.
SECRETARIAL COMPLIANCE CERTIFICATE ;
The Secretarial Compliance Certificate issued by a practicing Company
Secretary pursuant to Section 383A of the Companies Act 1956 read with
Rule 3 of Companies (Compliance Certificate) Rule, 2001 is annexed to
this Report.
DIRECTORS RESPONSIBILITY STATEMENT :
Pursuant to the requirement under Section 217(2AA) of the Companies
Act, 1956 with respect to Directors Responsibility Statement, it is
hereby confirmed:
i) that in the preparation of the Annual Accounts for the year ended
March 31, 2010, the applicable Accounting Standards have been followed
alongwith proper explanation relating to material departures.
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 fair view of the state of
affairs of the Company at the year ended March 31, 2010 and of the
profit of the Company for that period.
iii) that the Directors had 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 fraud and other irregularities.
iv) that the Directors had prepared the Annual Accounts for the year
ended March 31, 2010 on a going concern basis.
PARTICULARS OF EMPLOYEES :
The particulars of the employees under the provision of section 217
(2A) of the Companies Act, 1956 are not given as no employees was in
receipt of remuneration exceeding Rs.24,00,000/- p.a., if employed for
the full year or Rs. 2,00,000/-p.m. if employed for part of the year.
INFORMATION PURSUANT TO SECTION 217 (1) (a) :
The Company does not carry out any manufacturing activity therefore
Rule 2 of the Companies (Disclosure of particulars in the report of the
Board of Directors) Rules 1988, pursuant to Section 217 (1) (a) of the
Companies Act, 1956 is not applicable.
PARTICULARS ON CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION :
This information is required as per Section 217(l)(e) of the Companies
Act, 1956, read with the Companies (Disclosure of Particulars in the
Report of the Board of Directors) Rules, 1988 and forming part of the
Directors Report for the year ended March 31, 2010.
Since the Companys operations involve low consumption of energy, the
Company has no comments to offer as far as (a) conservation of energy
and (b) Technology absorptions are concerned.
FOREIGN EXCHANGE :
The Foreign exchange earnings and foreign exchange expenditure during
the period under consideration was NIL.
For and on behalf of the Board of Directors of
SHREE SALASAR INVESTMENTS LIMITED
Sarita Mansingka K. C. Dawda
CHAIRMAN DIRECTOR
PLACE: MUMBAI
DATED: MAY 06, 2010
Mar 31, 2009
The Directors have pleasure in presenting herewith their 29th Annual
Report together with the Audited Accounts for the financial year ended
on 31st March, 2009.
FINANCIAL RESULTS:
Year ended Year ended
31st March, 2009 31st March, 2008
Profit before tax 31,606 22,854
Deduct:
Provision for tax 8,000 2,500
Provision for tax- earlier
year 14,868
Profit for the year 8,738 20,354
Surplus brought forward from
previous year 66,940 46,586
Surplus carried to
balance sheet 75,678 66,940
DIVIDEND.
In view of the nominal profit, the directors have not recommended any
dividend for the financial year ended on 31st March, 2009.
INVESTMENTS:
The market value of the companys investments in the shares and
securities as per schedule 4 given in the Balance Sheet is Rs.
8,51,663/-. Besides the company holds investments in unquoted shares of
Rs. 50,000/-.
DIRECTORS:
Shri R.K. Mansingka retires by rotation and being eligible offers
himself for re-appointment.
DIRECTORS RESPONSIBILITY:
Pursuant to Section 217(2AA) of the Companies Act, 1956 your directors
confirm that:
(i) in the preparation of the annual accounts the applicable accounting
standards has been followed
(ii) they had selected such 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 affairs of the
company as on 31st March, 2009 and of the profit of the company for the
year ended on 31st March, 2009
(iii) they has 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 he company and for
preventing and detecting fraud and other irregularities
(iv) they had prepared the accounts on a "going concern basis".
TECHNOLOGY ABSORPTION. RESEARCH & DEVELOPMENT:
Since the company is not involved in manufacturing activity, the
information as required under Section 217(l)(e) of the Companies Act,
1956 is not furnished. Likewise the question of environment and
pollution control does not arise.
FOREIGN EXCHANGE:
There was no foreign exchange earning nor any foreign exchange
outgoings as such during the year under report.
PARTICULARS OF EMPLOYEES:
The company has no employee of the category specified under section
217(2A) of the Companies Act, 1956.
AUDITORS:
The Auditors M/s. Shankerlal Jain & Associates retire at the conclusion
of the ensuing Annual General Meeting and are eligible for
re-appointment.
FOR AND ON BEHALF OF THE BOARD OF DIRECTORS
R.K. Mansingka
Place: Mumbai Chairman
Date: 31/7/2009
Mar 31, 2008
The Directors'' have pleasure in presenting herewith their 28th
Annual Report together with the Audited Accounts for the financial year
ended on 31st March, 2008.
ELMAN.CIALHHSyi.IS:
Year ended Year ended
31st March 2008 31st March 2007
Profit before Tax 22,854 12,924
Deduct
Provision for lax 2.500 2.500
Profit for the year 20,354 10.424
The profit of Rs,20,354/- has been carried to balance sheet and thus an
accumulated surplus of Rs 66.940/- appear in the balance sheet
DIVIDEND:
In view of the nominal profit the Directors have not recommended any
dividend for the financial year ended on 31st March. 2008
INVESTMENTS
The market value of the company''s investments in the share and
securities as per Schedule 4 given in the Balance Sheet in
Rs.8,51,663/- Besides the company holds investments in unquoted shares
of Rs 50,000/-
Shri M.P. Munsinghka resigned as a chairman and director of the company
with Offer from 12/1/2008
Smt Sarita Mansingka was appointed as an additional director of the
company with collect from 5/1/2008 and thus she shall hold the office of
the director nil the ensuing annual general meeting The company has
received a notice U/s 257 along with the deposit of Rs 500/- from a
member of the company proposing her candidature for the post of the
director, liable to retire by rotation
Mr P K Murarka incites by rotation and being eligible otters himself
for re-appointment
Pursuant to Section 217(2AA) of the Companies Act. 1956 your directors
confirm that
(i) in the preparation of the annual accounts the applicable accounting
standards have been followed
(ii) they had selected such accounting policies and applied them
consistently and made judgments and estimates that ate reasonable and
prudent so as to give a true and fair view of the state of affairs of
the company as on 31st March. 200X and of the profit of the company for
the year ended on 31st March. 2008
(iii) they had taken proper and sufficient circlers 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) they had prepared the accounts ongoing concern busts
TECHNOLOGY ABSORPTION RESEARCH & DEVELOPMENT
Since the company is not a manufacturing company, the information as
required under section 217(1) (c) of the Companies Act. 1956 is not
furnished Likewise the question of environment and pollution control
does not arise
PARTICULARS OF EMPLOYEES
The company had no employee of the category specified under section 217
(2A) of the Companies Act, 1956
AUDITORS
The Auditors. M/''s Shankarlal Jain & Associates retire at the
conclusion of the ensuing Annual General Meeting and are eligible for
re-appointment.
Place: Mumbai FOR AND ON BEHALF OF THE BOARD OF DIRECTORS
Date: 05/07/2008
R.K.Mansingka
Chairman
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