Mar 31, 2010
The Directors hereby present their Nineteenth Annual Report and the
Audited Accounts for the year ended 31st March, 2010.
FINANCIAL RESULTS:
(Amount in Rupees)
Year ended Year ended
31-03-2010 31-03-2009
Sales and Other Income 43,753,446 852,160
Profit before Interest and
Depreciation 77,48,680 642060
Less: Interest 0 0
Less: Depreciation 52,340 52340
Profit/(Loss) before Tax 76,96,340 589720
Less: Provision for Taxation 0 9050
Profit/(Loss) After Tax 76,96,340 580,670
Balance Brought Forward (25,640,528) (26,221,198)
Balance carried over (17,944,188) (25,640,528)
OPERATIONS:
Turnover of the Company during the year under consideration was Rs.
4.05 crores as against Rs. 4.92 lacs previous year. The Company has
generated net profit after tax, of Rs. 76.96 lacs for the year under
consideration as compared to profit of Rs. 5.89 lacs in the previous
year.
DIVIDEND.
In order to conserve resources for future, your Directors do not
recommend any dividend for the year under review.
FIXED DEPOSITS:
The Company has neither invited nor accepted any deposits from public
during the year under review under the Companies (Acceptance of
Deposit) Rules, 1975 read with Section 58A of the Companies Act, 1956.
INDUSTRIAL RELATIONS:
The Company has been continuously attempting to improve employee skills
and productivity. Industrial relations generally remained cordial and
satisfactory.
PARTICULARS OF EMPLOYEES.
Information in accordance with the provisions of Section 217 (2A) of
the Companies Act, 1956 read with Companies (Particulars of Employees)
(Amendment) Rules, 1975 as amended, is not applicable as none of the
employees is entitled to a remuneration of Rs. 24 lacs or more per year
or Rs. 2 lacs or more per month.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNING AND OUTGO:
Provisions of Section 217(l)(e) read with the Companies (Disclosure of
particulars in report of the Board of Directors) Rule, 1988 are not
applicable to the Company.
AUDITORS:
Auditors, M/s. P. R. Agarwal & Awasthi, Chartered Accountants, retire
and offer themselves for re-appointment.
AUDITORS REPORT:
The observation made by the Auditors of the Company in their report
read with the notes on Accounts, are self-explanatory and do not
require any further clarification.
SECRETARIAL COMPLIANCE CERTIFICATE
The Compliance Certificate received in accordance with the provisions
of section 383A (1) of the Act read with the Companies (Compliance
Certificate) Rules 2001 is being attached to the Directors Report.
DIRECTORS RESPONSIBILITY STATEMENT:
As required under Section 217 (2AA) of the Companies Act, 1956, your
Directors confirm that:
(a) in the preparation of the annual accounts, the applicable
accounting standards have been followed;
(b) appropriate accounting policies have been selected and applied
consistently and that judgments and estimates made are reasonable and
prudent so as to give a true and fair view of the state of affairs of
the Company as at March 31, 2010 and of its profit for the year ended
on that date;
(c) proper and sufficient care has been taken 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.
(d) the annual accounts have been prepared on a going concern basis.
ACKNOWLEDGEMENT:
Your directors would like to place on record their gratitude for the
continuous support and co-operation received from the, bankers,
creditors and Government authorities. The Directors place on record
their appreciation of the contribution made by the employees and the
management.
FOR AND ON BEHALF OF THE BOARD,
SELLAIDS PUBLICATIONS (INDIA) LTD.
Place: Mumbai
Dated: 30th June, 2010.
(Mangala Rathod)
Director
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