Mar 31, 2014
The Members of
VINADITYA TRADING COMPANY LIMITED
The Directors have pleasure in presenting before you their Thirty
Third Annual Report together with the audited statement of accounts for
the year ended 31st March, 2014.
FINANCIAL RESULTS
Particulars 2013-14 2012-13
Revenue from Operation and other Income 2,240,901 3,018, 215
Gross Profit 897,202 982,658
Depreciation -- --
Profit before tax 897,202 982,658
Tax Expenses:
Current Tax (280,000) (255,000)
Deferred -- --
Tax of Earlier Year 31,210 --
MAT Credit Entitlement -- --
Profit after Taxation 648,412 727,658
Balance brought forward from previous year 70,413,127 69,685,469
Amount available for Appropriation 71,061,539 70,413,127
Transfer to General Reserve -- --
Proposed Dividend on Equity Shares -- --
Tax on Dividend -- --
Surplus carried to Balance Sheet 71,061,539 70,413,127
PROFITS
During the year under review the company made a Profit of Rs. 6,48,412
(Rupees Six Lakhs Forty Eight Thousand Four Hundred and Twelve Only)
after making a provision of Rs. 2,48,790 (Rupees Two Lakhs Forty Eight
Thousand Seven Hundred and Ninety Only) for Income Tax after adding to
the said amount carried forward profit of Rs 7,04,13,127 (Rupees Seven
Crores Four Lakhs Thirteen Thousand One Hundred and Twenty Seven Only)
the total surplus of Rs. 7,10,61,540 (Rupees Seven Crores Ten Lakhs
Sixty One Thousand Five Hundred and Forty Only) is carried forward to
the next year''s accounts.
DIVIDEND
Your Company is exploring business opportunities for implementing the
expansion plans of the existing businesses; therefore it is necessary
to conserve the funds to meet these investment opportunities, which
your Board believes would enhance the shareholders
wealth in coming period. Thus, your Board has not recommended any
dividend for the financial year 2013-14.
PUBLIC DEPOSITS
The Company has not accepted any deposits from the public during the
year under review. FOREIGN EXCHANGE EARNINGS
As the company is not a manufacturing unit and has also not used or
earned foreign exchange during the year the Companies (Disclosure of
Particulars in the report of Board of Directors) Rules 1988 as framed
u/s 217(e) of the Companies Act, 1956 may be considered as NIL.
DIRECTORS
Retirement by Rotation
In terms of provisions of Companies Act, 2013 Mr. Mahendra Sitaram
Pipalwa is liable to retiring by rotation in this Annual General
Meeting and who is being eligible, and offers himself, to be
re-appointed on the Board of the Company.
Independent Director
The Board of Directors has appointed Mr. Mohandas Kotiappa Kankanady as
an Additional Director of the Company w.e.f. 02nd May, 2014 and holds
office up to this Annual General Meeting. Your Company has received a
notice in writing from a member proposing his candidature for the
office of Independent Directors. He qualifies to be an Independent
Director pursuant to the provisions of Section 149(6) of the Companies
Act, 2013.
Mr. Satyaprakash Pathak has been appointed as an Independent Director
by the Members of the Company w.e.f. 30th September, 2013.
PARTICULARS OF EMPLOYEES
None of the employees of the Company was drawing remuneration in excess
of the limits prescribed under the provisions of section 217(2A) of the
Companies Act, 1956 read with the Companies (Particulars of Employees)
Rules, 1975 as amended till date.
DIRECTOR''S RESPONSIBILITY STATEMENT
Pursuant to the requirement under Section 217(2AA) of the Companies
Act, 1956 it
is hereby confirmed:
(i) that in the preparation of annual accounts for the financial year
ended 31st March, 2014 the applicable accounting standards had been
followed along with proper explanation relating to material departures;
(ii) that the directors had selected such accounting policies and
applied them consistently and made the judgments and estimates that
were responsible and prudent so as to give a True and Fair view of the
States of Affairs of the Company at the end of the financial year, and
of the profit or loss of the Company for that period.
(iii) that the directors had taken proper and sufficient care for the
maintenance of the 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 the Directors had prepared the Annual Accounts for the
financial Year Ended 31st March, 2014 on a "going concern basis".
CORPORATE GOVERNANCE
Pursuant to clause 49 of the Listing Agreements with the Stock
Exchanges, a Management Discussion and Analysis Report, Corporate
Governance Report and Certificate regarding compliance of conditions of
Corporate Governance are made a part of the Annual Report.
COMPLIANCE CERTIFICATE
As required under section 383A of the Companies Act, 1956 the
Compliance Certificate issued by M/s Aabid & Co., Practicing Company
Secretaries, Mumbai, for the year ended on 31st March, 2014.
AUDITORS
M/s. Sara & Associates, Chartered Accountants, Mumbai, the Auditors of
the company, retire at the conclusion of forthcoming Annual General
Meeting, and are eligible for re - appointment. They have furnished the
certificate of their eligibility for re-appointment as required under
section 149 of the Companies Act, 2013.
AUDITORS'' REPORT
There are no qualifications contained in the Auditors'' Report and
therefore no further explanation is required to be provided.
The notes referred to by the Auditors in their Report are self
explanatory and hence do not require any explanation.
VIGIL MECHANISM
The Company has established a vigil mechanism, under the supervision of
Chairman of Audit Committee, for Directors and Employees to report
genuine concerns to the Chairman of Audit Committee. This Mechanism
also provide safeguard against victimization of persons who use such
mechanism and make provision for direct access to the chairperson of
the Audit Committee in appropriate or exceptional cases.
DE-LISTING OF SECURITIES OF THE COMPANY FROM PUNE STOCK EXCHANGE
Company has decided to de-list the securities of the Company from Pune
Stock Exchange and which was also approved by the Members of the
Company at the Annual General Meeting held on 30th September, 2013.
So, in exercise of powers conferred on the Board of Directors of the
Company, securities of the Company have been delisted from Pune Stock
Exchange as w.e.f. 30th July, 2014 as mentioned in the De-listing
Letter issued by the Pune Stock Exchange in this regard.
LISTING:
The Shares of your Company are listed on the Bombay Stock Exchange and
the Annual Listing fee for the financial Year 2013-14 have been paid.
HUMAN RESOURCE & INDUSTRIAL RELATIONS
Industrial relations were harmonious throughout the year. The Board
wishes to place on record their sincere appreciation to the cooperation
extended by all the employees in maintaining cordial relations.
RESEARCH AND DEVELOPMENT: -
The company continuous to look at opportunities in the areas of
research and development in its percentage of activities
ACKNOWLEDGEMENTS
The Directors wish to convey their appreciation to all of the employees
of the Company for their enormous personal efforts as well as their
collective contribution during the year. The Directors would also like
to thank the shareholders, customers, suppliers, bankers, financial
institutions and all other business associates for their continuous
support given to the Company and their confidence in the management.
FOR AND ON BEHALF OF THE BOARD OF DIRECTORS OF
VINADITYA TRADING COMPANY LIMITED
SD/- SD/-
Mahendra Sitaram Pipalwa Rammohan Bandlamudi
Director Director
DIN:-02369232 DIN:- 00285798
Mumbai, Dated: 05th September, 2014
Mar 31, 2013
The Members of VINADITYA TRADING COMPANY LIMITED
The Directors have pleasure in presenting before you their Thirty
Second Annual Report together with the audited statement of accounts
for the year ended 31s1 March 2013
2) DIRECTORS:
According to provision of the Companies Act, 1956 and the / .rticle of
Association of the Company Mr. Sushil Kumar Ramjiwan Nevatia, Director
of the Company is liable to be retire by rotation at the forthcoming
Annual General Meeting and being eligible has offered himself for
re-appointment as director of the Company. The board recommends his
reappointment.
The Board of Directors recommends appointment of Mr. Satya Prakash
Pathak as Directors of the company in forthcoming Annual General
Meeting. The director holds the position up to the conclusion of the
Annual General Meeting. The Company has received request proposing
candidature of Mr. Satya Prakash Pathak along with requisite deposit.
Your director recommends their appointment as the directors of the
Company, liable to retire by rotation.
The company has duly complied with provisions of Clause 49 of Listing
Agreement relating to constitution of directors.
3) CORPORATE GOVERNANCE:
A separate section on Corporate Governance forming part of the
Director''s Report and the Certificate from the Company''s Statutory
Auditors confirming the Compliance of the condition on Corporate
Governance as stipulated in Clause 49 of The Listing Agreement is
included in the Annual Report.
4) AUDITORS:
M/s. K.D. Vyas & Co., Chartered Accountants, Mumbai, Statutory Auditors
of the Company, will hold office until the conclusion of the ensuing
Annual General Meeting. They have given a resignation letter in writing
and expressed their unwillingness to be re-appointed as the Statutory
Auditors of the Company due to their pre-occupation and engagement with
other professional work. The Company has received letter of
confirmation from M/s Sara & Associates., Chartered Accountants, Mumbai
for their appointment as Statutory Auditors of the Company, and if made
would be within the prescribed limits under Section 224 (IB) of the
Companies Act, 1956. The members are requested to consider their
appointment for the financial year 2013-14 and authorize the Board of
the Directors to fix their remuneration.
5) FIXED DEPOSITS:
Pursuant to the Section 58A of the Companies Act, 1956 and the
Companies (Acceptance of Deposits) Rules; 1975 the Company has not
accepted any Deposit from the Public.
6) CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION:
Information in accordance with the provisions of Section 217(1) (e) of
the Companies Act, 1956, read with the Companies (Disclosure of
Particulars in the Report of Board of Directors) Rules 1988, regarding
conservation of energy and technology absorption is not applicable to
your Company.
7) FOREIGN EXCHANGE EARNINGS AND OUTGO:
(Amount in Rs.)
Particulars For the year ended
as on For the year ended
as on 31st
31st March, 2013 March, 2012
(A)Total Foreign Exchange NA NA
Earned.
(B)Total Foreign Exchange NA NA
Used.
8) LISTING:
The Shares of your Company are listed on the Bombay Stock Exchange and
Pune Sock Exchange and the Annual Listing fee for the financial Year
2012-13 is have been paid.
9) PARTICULARS OF EMPLOYEES:
As required under the provision of the Section 217(2A) of the Companies
Act, 1956, read with Companies (Particuhrs Of Employees) Rules; 1975
during the year under the report, no employee of the Company,
throughout the year or part of the year was in receipt of the remuiei
Hion as specified in Section 217(2A) of Companies (Particulars Of
Employees) Rules; 1975.
The Directors wish to place on their record their appreciation for the
positive co-operation received from its consumers, suppliers, bankers,
Government of India.
During the year under review the company made a Profit of Rs. 727,658
after making a provision of Rs. 2,55,000 for Income Tax. After adding
to the said amount the carried forward profit of Rs 6,96,85,469, the
total surplus of Rs. 7,04,13,127 is carried forward to the next year''s
accounts. In order to conserve resources, the directors do not
recommend payment of any dividend.
Mr. Sushil Kumar Ramjiwan Nevatia a Director of the company retires by
rotation at the ensuing Annual General Meeting and is eligible for
re-appointment.
During the year the company had no employee of the category indicated
u/s 217 (2A) of the Companies Act, 1956.
Pursuant to the requirement under Section 217(2AA) of the Companies
Act, 1956 it is hereby confirmed:
(i) that in the preparation of annual accounts for the financial year
ended 31st March, 2013 the applicable accounting standards had been
followed along with proper explanation relating to material departures;
(ii) that the directors had selected such accounting policies and
applied them consistently and made the judgments and estimates that
were responsible and prudent so as to give a True and Fair view of the
States of Affairs of the Company at the end of the financial year, and
of the profit or loss of the Company for that period.
(iii) that the directors had taken proper and sufficient care for the
maintenance of the 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 the Directors had prepared the Annual Accounts for the
financial Year Ended 31st March, 2013 on a "going concern basis".
Pursuant to the proviso to sub-section (1) of Section 383A of the
Companies Act, 1956 and the Rules made there under, the requisite
Secretarial "Compliance Certificate" is attached to this Report.
As the company is not a manufacturing unit and has also not used or
earned foreign excha ge during the year the Companies (Disclosure of
Particulars in the report of Board of Directc -s) Rules 1988 as framed
u/s 217(e) of the Companies Act, 1956 may be considered as NIL.
The Board of Directors of the company in the Board Meeting held on 14th
May, 2012, has passed amalgamation of ANR Investments Limited with
itself subject to necessary approval from Hon''ble High Court of
Judicature. The amalgamation of ANR Investments Limited with Vinaditya
Trading Company Limited has been approved by Hon''ble High Court of
Judicature vide dated 22nd March 2013 and accordingly it has been
merged in pursuance of the order from High Court.
M/s. K.D. Vyas & Co., Chartered Accountants, Mumbai, the Auditors of
the company, retire at the forthcoming Annual General Meeting.
FOR AND ON BEHALF OF THE BOARD OF DIRECTORS OF
VINADITYA TRADING COMPANY LIMITED
Director
Mumbai, dated 5th September, 2013
Mar 31, 2010
The Directors have pleasure in presenting before you their
Twenty-ninth Annual Report together with the audited statement of
accounts for the year ended 31st March, 2010.
During the year under review the company made a loss of? 25,13? after
making a provision of Rs. 2,500 for Income Tax. After deducting the
said amount from the carried forward profit of Rs. 18,60.841, the
balance surplus of Rs. 18,35,704 is carried forward to the next years
accounts. In order to conserve resources, the directors do not
recommend payment of any dividend.
Mr. S.R. Nevatia, a Director of the Company, retires by rotation at the
ensuing annual general meeting and is eligible for reappointment.
During the year the Company had no employee of the category indicated
U/s 217 (2A) of the Companies Act, 1956.
Pursuant to Section 217(2AA) of the Companies (Amendment) act, 2000.
the Directors state as under :
(1) that in the preparation of the annual accounts, the applicable
accounting standards had been followed along with 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 true and fair view of the state
of affairs of the Company at the end of the financial year and of the
loss 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 this Act for safeguarding the assets of the company and
for preventing and detecting fraud and other irregularities;
(iv) that the directors had prepared the annual accounts on a going
concern basis.
Pursuant to the provisions of the Companies Act, 1956, the accounts
together with Directors Report of ANR INVESTMENTS LIMITED, the
companys subsidiary, for the year ended 31st March, 2010 are attached
to the balance sheet of the Company.
Pursuant to the proviso to sub-section (1) of Section 383A of the
Companies Act, 1956 and the Rules made there under, the requisite
Secretarial Compliance Certificate" is attached to this Report.
As the Company is not a manufacturing unit and has also not used or
earned any foreign exchange during the year, the Companies (Disclosure
of Particulars in the Report of Board of Directors) Rules, 1988 as
framed U/s. 217(l)(e) of the Companies Act, 1956 may be considered as
Nil.
M/s. K.D. Vyas & Co., Chartered Accountants, Mumbai. the Auditors of
the Company, retire at the forthcoming Annual General Meeting and
approval of members is being sought at the Annual General Meeting for
their re-appointment.
FOR AND ON BEHALF OF THE BOARD OF DIRECTORS
S.G. BOHRA
DIRECTOR
Mumbai, dated 30th May, 2010.