Mar 31, 2014
Dear Members,
The Directors have pleasure in presenting their Twenty Ninth Annual
Report and the Audited Annual Accounts for the financial year ended
31st March, 2014.
Financial Results:
The Company''s financial performance, for the year ended 31st March,
2014 is summarized below:
Financial Year Financial Year
2013-2014 2012-2013
Amount in Rs. Amount in Rs.
(In lakhs) (In lakhs)
Gross Receipts 14.17 13.15
Profit before taxation 13.30 12.20
Provision for Current taxation 4.40 4.09
Net Profit for the Year 8.90 8.11
Dividend:
Your directors do not recommend any dividend for the year under report.
Director:
Shri Joykrishna Dalia (DIN:00339844) retires by rotation and being
eligible offers himself for re-appointment at the ensuing Annual
General Meeting.
Directors'' Responsibility Statement:
Pursuant to Section 217(2AA) of the Companies Act, 1956, the Board of
Directors of your Company confirm:
(i) that in the preparation of the accounts for the financial year
ended 31st March, 2014, the applicable accounting standards have been
followed along with proper explanation relating to material departures;
(ii) that your Directors have selected such accounting policies and
applied them consistently and made judgements and estimates that were
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) 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, 1956 for safeguarding the assets of
the Company and for preventing and detecting fraud and other
irregularities;
(iv) that you Directors have prepared the accounts for the financial
year ended 31st March, 2014 on a ''going concern'' basis.
Deposits:
The Company has not accepted any Public Deposits, during the year under
review.
Auditors:
The Auditors of the Company, M/s N B Thakore & Co., Chartered
Accountants, hold office until the conclusion of the ensuing Annual
General Meeting and are eligible for reappointment. The Board
recommends their re-appointment as Auditors of the Company.
The Company has received a letter from them to the effect that their
re-appointment, if made, would be within the prescribed limits under
Section 141 (3)(g) of the Companies Act, 2013 and that they are not
disqualified for such re-appointment.
Particulars of Employees:
The Company has not paid any remuneration in terms of the provisions of
section 217 (2A) of the Companies Act, 1956, read with Companies
(Particulars of Employees) Rules, 1975 as amended. Hence, no
information is required to be appended to this report in this regard.
Particulars required to be disclosed by the Company under Section 217
(1) (e) of the Companies Act, 1956 read with the "Companies
(Disclosures of particulars in the Report of Board of Directors) Rules
1988":
A] Conservation of Energy & Technology Absorption
The Particulars relating to conservation of energy and technology
absorption are ''nil'' in your Company.
B] Foreign Exchange Earnings and Outgo
There were no foreign exchange earnings or outgo during the year under
review.
Acknowledgement:
Your Directors would like to express their grateful appreciation for
the assistance and co-operation received from the Government, banks,
other business constituents and members during the year under review.
For and on behalf of the Board of Directors
Place: Mumbai H. M. Vora U. C. Damani
Dated: 02.09.2014 DIN : 00288343 DIN : 00094367
Director Director
Mar 31, 2010
The Directors have pleasure in presenting their Twenty Fifth Annual
Report and the audited accounts for the financial year ended 31st
March, 2010.
WORKING:
During the year under report, your Company earned income of Rs.0.87
Lakhs. After incurring necessary expenses, the Company earned a net
profit of Rs.0.21 Lakhs. Your Directors continue their efforts to
improve the working of the Company.
DIVIDEND:
Your directors do not recommend any dividend for the year under report.
DIRECTOR :
During the year, Shri Hitesh M. Vora was appointed as an Additional
Director with effect from 30th January, 2010. He holds office upto the
date of ensuing Annual General Meeting and is eligible for
reappointment. The Company has received notice under Section 257 of the
Companies Act, 1956, proposing his appointment as Director, subject to
retirement by rotation.
Shri Udaykumar C. Damani retires by rotation and being eligible offers
himself for re- appointment at the ensuing Annual General Meeting.
Shri Vijay R. Agarwal has resigned from the Board of Directors of the
Company with effect from 30th January, 2010. The Board of Directors
place on record its appreciation for the valuable services rendered by
him during the tenure of his office.
DIRECTORS RESPONSIBILITY STATEMENT:
Pursuant to Section 217(2 A A) of the Companies Act, 1956, the Board of
Directors of your Company confirm:
(i) that in the preparation of the accounts for the financial year
ended 31st March, 2010, the applicable accounting standards have been
followed along with proper explanation relating to material departures;
(ii) that your Directors have selected such accounting policies and
applied them consistently and made judgements and estimates that were
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 tinder review;
(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, 1956 for safeguarding the assets of
the Company and for preventing and detecting fraud and other
irregularities;
(iv) that you Directors have prepared the accounts for the financial
year ended 31st March, 2010 on a going concern basis.
DEPOSITS:
The Company has not accepted any Public Deposits, during the year under
review.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE
EARNINGS AND OUTGO:
Particulars required to be furnished in this report under Section
217(1) (e) of the Companies Act, 1956, relating to conservation of
energy and technology absorption are nil in your Company
There are no foreign Exchange earnings and outgo, during the year under
review.
PERSONNEL:
The Company has not paid any remuneration attracting the provisions of
Companies (Particulars of Employees) Rules, 1975 read with Section 217
(2A) of the Companies Act, 1956. Hence, no information is required to
be appended to this report in this regard.
AUDITORS:
The Auditors, M/s. N. B. Thakore & Company, Chartered Accountants, hold
office until the conclusion of the ensuing Annual General Meeting and
are recommended for re-appointment. Certificate from the Auditors has
been received to the effect that their re-appointment, if made, would
be within the prescribed limits under Section 224 (1) of the Companies
Act, 1956.
For and on behalf of the Board of Directors
PLACE : Mumbai U.C. DAMANI H.M. VORA
DATED :2 nd September, 2010 DIRECTOR DIRECTOR
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