Mar 31, 2012
THE SHAREHOLDERS
The Directors have pleasure in presenting their 28 th Annual Report
with the Audited Account of the Company for the period ended 31st
March, 2012,
FINANCIAL RESULTS: (Rs. in Lac)
For the year ended on For the year ended on
31.03.2012 31.03.2011
Total Income 136,36 90.05
Total Expenditure 123.31 89.04
Profit / (Loss)
before Taxation 13,05 1.01
Provision for tax 2.45 2.80
Short Provision of
Previous Year 25.22 -
Profit / (Loss) after
Taxation (1 4.52) (1.41)
Balance b/f from
Previous Year (371,2) (369,79)
Balance Carried to
Balance Sheet (385,72) (371.2)
OPERATONS:
The total income fbrthe period ended 31.03.201 2 was Rs. 1 36.36 Lac
against previous year Rs. 90.05 lac. During the year under review the
company has incurred loss of Rs.(1 4.52) Lac against previous year loss
of Rs. (1.41 Lac),
CURRENT STATUS AND FUTURE PLANS OF COMPANY:
The Company has not been able to start any Manufacturing activities due
to pending litigations and clearing of debts. The management has
decided to exit the main business activities in the year 2007-
OS and altered its main object to IT and IT enabled services, To
generate some income the Company has started to lease the premises, The
company's proposed business plans could not be materialized, due to
worldwide recession during last few years. The management is giving its
best efforts to generate the income from the IT and IT enabled
services.
The Company has planned to use its additional office space by giving it
on lease to have additional source of income, The Company has started
construction of additional floors to the building & has transferred Rs.
14876774/-to the Building Account.
DIVIDEND:
In view of the accumulated losses, your Directors have decided not to
recommend any dividend for the year under review. (Previous Year: Nil),
FIXED DEPOSITS:
The Company has not invited / accepted / renewed any fixed deposits as
per the provisions of Section 58 A of the Companies Act 1 956 from the
public during the year under review,
CONSERVATION OF ENERGY:
The company is into Services Industry hence the information regarding
conservation of energy Technology Absorption, Adoption and innovation,
the information required under section 21 7(1 )(e) of the Companies
Act, 1 956 read with the Companies (Disclosure of particulars in the
Report of Board of Directors) Rules 1 988, is reported to be NIL.
TECHNOLOGY ABSORPTION FOREIGN EXCHANGE EARNING AND OUTGO:
Information related the foreign exchange is as below:
Foreign exchange earnings - Rs. 8.00 Lac
Foreign exchange outgoings - Rs. Nil
PARTICULARS OF EMPLOYEES:
There were no employees during the year or part of the year drawing
remuneration, which falls within the preview of the provisions of
Section 21 7 (2A) of the Companies Act 1 956.
DIRECTORS' RESPONSIBILITY STATEMENT:
In terms of Section 21 7 (2AA) of the Companies Act 1 956, the
directors would like to state that:
i) In the preparation of the Annual Accounts, the applicable accounting
standards have been followed along with proper explanation relating to
material departures:
ii) 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 fbrthe year under review.
iii) The Directors have taken proper and sufficient care fbrthe
maintenance of adequate accounting records in accordance with the
provisions of the Act fbr safeguarding the assets of the Company and
fbr preventing and detecting fraud and other irregularities;
iv) The Directors have prepared the Annual Accounts on a going concern
basis.
AUDITORS:
M/s. A. Puri & Co, Auditors of the Company retire at the conclusion of
ensuring Annual General Meeting and are eligible fbr reappointment. You
are requested to appoint Auditors to hold of his until the next Annual
General Meeting,
AUDITORS REPORT:
The observation made in the Auditors' Report read together with
relevant notes thereon are self explanatory and hence do not call, any
further comments under Section 21 7 of the Companies Act 1956.
SECRETARIAL AUDITORS REPORT:
The Compliance Certificate under section 383A has been obtained from
the Practicing Company Secretary and is form part of the Balance Sheet.
DIRECTOR RETIRE BY ROTATION:
Mr. Dilip Vitthal Damle retires by rotation at the ensuing Annual
General Meeting and being eligible offers himself for re-appointment.
Your Directors recommends his re-appointment
Pursuant to the Section 260 of the Companies Act, 1 956 and the
Articles of Association of the Company Mr. Krishna KumarVenkatram
Aiyarwas appointed as an additionaldirectoroperations of the company in
the Board Meeting held on 02.01.201 2, His term of office expires on
the forthcoming Annual General Meeting. Pursuant to the provisions of
section 257 of the Act, the company has received notice from a member
for the nomination of Mr. Krishna Kumar Ventatram Aiyaras the directors
of the company along with the requisite deposit, The Board recommends
his appointment.
During the year Mr. Narayanan Rama Pisharoty has resigned from the
Board of Directors of the Company. The Board placed their sincere appr
eciation for the services rendered by him during his tenure as
director.
CORPORATE GOVERNANCE REPORT:
A separate report on corporate governance is attache d herewith which
may be considered as a part of Directors' Report.
MANAGEMENT DISCUSSION AND ANAIYSIS REPORT:
A separate report on "Management Discussion and Analysis Report" is
attached herewith which may be considered as a part of Directors'
Report.
APPRECIATION:
Your Company & its Directors wish to extend their sincerest thanks to
the Bankers, State Government, Customers, Suppliers and Staff for their
continuous co-operation & guidance.
For and on behalf of Board of Directors.
TECHTREK INDIA LIMITED
Place : Mumbai
Dated : 1st September, 2012 Chairman
Mar 31, 2010
The Directors have pleasure in presenting their 26th Annual Report
with the Audited Account of the Company for the period ended 31st
March, 2010.
FINANCIAL RESULTS: (Rs. in Lac)
For the year ended on For the year ended on
31.03.2010 31.03.2009
Total Income 134.17 149.50
Total Expenditure 49.06 78.65
Profit / (Loss) before Taxation 85.11 70.85
Provision for Tax 20.00 18.00
Profit/(Loss) after Taxation 65.50 53.80
Balance b/f from Previous Year (440.06) (493.86)
Balance Carried to Balance Sheet (369.79) (440.06)
OPERATONS:
The total income for the period ended 31.03.2010 was Rs 134.1 7 Lac
(Previous Year Rs. 149.49 Lac). The Profit After Tax is Rs 65.50 Lac
(Previous Year Rs. 53.80 Lac).
CURRENT STATUS AND FUTURE PLANS OF COMPANY::
The Company has not been able to start any Manufacturing activities due
to pending litigations and clearing of debts. The management has
decided to exit the main business activities in the year 2007-08 and
altered its main object to IT and IT enabled services. To generate some
income the Company has started to lease the premises. The companys
proposed business plans could not be materialized, due to worldwide
recession during the period 2008-09 and 2009-10. The management is
giving its best efforts to generate the income from the IT and IT
enabled services.
Further the Company has decided to merge its other group company M/s
Tech Trek Technologies Limited who is having vast skill and know-how in
IT Sector with itself. It was agreed that financials as on 31st March
2010 would be treated as the effective date for consideration of merger
valuation. M/s Deloitte Haskins & Sells, has been appointed as the
Consultant for the proposed merger.
CHANGE OF NAME
The Company has changed it name from Zentroncis Technologies Limited to
Techtrek India Limited in the Extra Ordinary General Meeting held on
23rd February, 2010, considering brand name and goodwill of
"TECHTREK"(Group Company Name) in the international market.
DIVIDEND:
In view of the accumulated losses, your Directors have decided not to
recommend any dividend for the year under review. (Previous Year: Nil).
FIXED DEPOSITS:
The Company has not invited / accepted / renewed any fixed deposits as
per the provisions of Section 58 A of the Companies Act 1 956 from the
public during the year under review.
CONSERVATION OF ENERGY::
The company is into Services Industry hence the information regarding
conservation of energy, Technology Absorption, Adoption and innovation,
the information required under section 21 7(1 )(e) of the Companies
Act, 1 956 read with the Companies (Disclosure of particulars in the
Report of Board of Directors) Rules 1 988, is reported to be NIL
TECHNOLOGY ABSORPTION FOREIGN EXCHANGE EARNING AND OUTGO:
The Company has not earned or used foreign exchange earnings/outgoings
during the year under review..
PARTICULARS OF EMPLOYEES:
Information as per Section 21 7(2A) of the Companies Act, 1 956 read
with Companies (Particulars of employees) Rules, 1974 are mentioned
below:
Name & Designation Age Date of Experience Gross
Remuneration
Appointment in years (In Rupees)
Mr. Naresh Malhotra 66 1.10.2009 35 Rs. 20,00,000/-
CEO
DIRECTORS RESPONSIBILITY STATEMENT::
In terms of Section 217 (2AA) of the Companies Act 1 956, the directors
would like to state that:
i) In the preparation of the Annual Accounts, the applicable accounting
standards have been followed along with proper explanation relating to
material departures:
ii) 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 the year under review.
iii) The Directors have 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;
iv) The Directors have prepared the Annual Accounts on a going concern
basis.
AUDITORS:
M/s, A. Puri & Co, Auditors of the Company retire at the conclusion of
ensuring Annual General Meeting and are eligible for reappointment. You
are requested to appoint Auditors to hold of his until the next Annual
General Meeting.
AUDITORS REPORT::
The observation made in the Auditors Report read together with
relevant notes thereon are self explanatory and hence do not call, any
further comments under Section 217 of the Companies Act 1956.
SECRETARIAL AUDITORS REPORT:;
The Compliance Certificate under section 383A has been obtained from
the Practicing Company Secretary and is form part of the Balance Sheet.
DIRECTOR RETIRE BY ROTATION
Mr. Anthony Clifford Gale retires by rotation at the ensuing Annual
General Meeting and being eligible offers himself for re-appointment.
Your Directors recommends his re-appointment.
CORPORATE GOVERNANCE REPORT
A separate report on corporate governance is attached herewith which
may be considered as a part of Directors Report.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
A separate report on "Management Discussion and Analysis Report" is
attached herewith which may be considered as a part of Directors
Report.
APPRECIATION:
Your Company & its Directors wish to extend their sincerest thanks to
the Bankers, State Government, Customers, Suppliers and Staff for their
continuous co-operation & guidance.
For and on behalf of Board of Directors.
TECHTREK INDIA LIMITED
Place : Mumbai
Dated: 2nd September, 2010 Chairman
Mar 31, 2009
The Directors have pleasure in presenting their 25Ã Annual Report with
the Audited Account of the Company for the period ended 31st March,
2009.
FINANCIAL RESULTS:
(Rs. in Lac)
For the year ended on For the year ended on
31.03.2009 31.03.2008
Total Income 149.50 101.40
Total Expenditure 78.65 45.65
Profit / (Loss) before Taxation 70.85 55.74
Provision for Tax 18.00 17.00
Profit / (Loss) after Taxation 53.80 38.73
Balance b/ffrom Previous Year (493.86) (532.60)
Balance Carried to Balance
Sheet (440.06) (493.86)
OPERATONS:
The total income for the period ended 31.03.2009 was Rs 149.49 Lac
(Previous Year Rs. 101.40 Lac). The Profit After Tax is Rs 53.80 Lac
(Previous Year Rs.38.73 Lac).
CURRENT STATUS AND FUTURE PLANS OF COMPANY:
The Company has not been able to start any Manufacturing activities due
to pending litigations and clearing of debts. The management has
decided to exit the main business activities in the year 2007-08 and
altered its main object to IT and IT enabled services as the existing
CEO Mr. Naresh Malhotra and his associates has vast knowledge and
experience in IT Sector. The Company will be benefited from his rich
knowledge and experience. To generate some income the Company has
started to lease the premises. The companys proposed business plans
could not be materialized, due to worldwide recession during the period
2008-09. The management is giving its best efforts to generate the
income from the IT and IT enabled services.
DIVIDEND:
In view of the accumulated losses, your Directors have decided not to
recommend any dividend for the year under review. (Previous Year: Nil).
FIXED DEPOSITS:
The Company has not invited / accepted / renewed any fixed deposits as
per the provisions of Section 58 A of the Companies Act 1956 from the
public during the year under review.
CONSERVATION OF ENERGY:
The company is into Services Industry hence the information regarding
conservation of energy, Technology Absorption, Adoption and innovation,
the information required under section 217(l)(e) of the Companies Act,
1956 read with the Companies (Disclosure of particulars in the Report
of Board of Directors) Rules 1988, is reported to be NIL.
TECHNOLOGY ABSORPTION FOREIGN EXCHANGE EARNING AND OUTGO:
The Company has not earned or used foreign exchange earnings/outgoings
during the year under review.
DIRECTORS RESPONSIBILITY STATEMENT:
In terms of Section 21 7 (2AA) of the Companies Act 1956, the directors
would like to state that:
i) In the preparation of the Annual Accounts, the applicable accounting
standards have been followed along with proper explanation relating to
material departures;
ii) 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 the year under review.
iii) The Directors have 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;
iv) The Directors have prepared the Annual Accounts on a going concern
basis.
AUDITORS:
M/s. A. Puri & Co, Auditors of the Company retire at the conclusion of
ensuring Annual General Meeting and are eligible for reappointment. You
are requested to appoint Auditors to hold of his until the next Annual
General Meeting.
AUDITORS REPORT:
The observation made in the Auditors Report read together with
relevant notes thereon are self explanatory and hence do not call, any
further comments under Section 217 of the Companies Act 1956.
SECRETARIAL AUDITORS REPORT:
The Compliance Certificate under section 383A has been obtained from
the Practicing Company Secretary and is form part of the Balance Sheet.
DIRECTOR RETIRE BY ROTATION
Mr. Pravinchandra M. Shah retires by rotation at the ensuing Annual
General Meeting and being eligible offers himself for re-appointment.
Your Directors recommends his re-appointment.
Mr. Dilip Damle retires by rotation at the ensuing Annual General
Meeting and being eligible offers himself for re-appointment. Your
Directors recommends his re-appointment.
DIRECTOR
Pursuant to the Section 260 of the Companies Act, 1956 and the Articles
of Association of the Company Mr. Anthony Clifford Gale and Mr.
Narayanan Rama Pisharoty were appointed on as additional directors
w.e.f 08.01.2009 . Their term of office expires on the forthcoming
Annual General Meetings.
Pursuant to the provisions of section 257 of the Act, the company has
received notice from a member for the nomination of Mr. Anthony
Clifford Gale and Mr. Narayanan Rama Pisharoty as the directors of the
company alongwith the requisite deposit.
Mr. Pradeep Shroff, Director of the Company resigned effective from
8.1.2009. Your director places on record their appreciation of the
valuable services rendered by the above directors during their tenure
as Directors.
CORPORATE GOVERNANCE REPORT
A separate report on corporate governance is attached herewith which
may be considered as a part of Directors Report.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
A separate report on "Management Discussion and Analysis Report" is
attached herewith which may be considered as a part of Directors
Report.
APPRECIATION:
Your Company & its Directors wish to extend their sheerest thanks to
the Bankers, State Government, Customers, Suppliers and Staff for their
continuous co-operation & guidance.
For and on behalf of Board of Directors.
Place : Mumbai
Dated: 3rd September, 2009 Chairman
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