Mar 31, 2014
Dear Members,
The Directors have pleasure in presenting the Annual Report and
Audited Statements of Accounts for the financial year ended on 31 st
March 2014.
FINANCIAL RESULTS:
(Rs. in Lakhs)
Particulars 2012-13 2012-13
Sales and Other Income 4764.72 11.39
Profit before Depreciation and Tax 7.34 -27.45
Depreciation 0.02 0.00
Profit before Tax 7.32 -27.45
Provision for fax 1.40 0
Provision for Deferred Tax 0 0
Prior Year Tax Adjustment 0 -0.01
Profit After Tax 5.92 -27,45
Add: Profit brought forward from previous year -46.31 -18.86
Balance Carried to Balance Sheet (40.39) (46.31)
During the year your Company has achieved a turnover of Rs. 45.04
Crores as against Nil turnover last year and has earned profit of Rs.
5,92 Lakh as against loss of Rs. 27.45 Lakhs during the previous year,
DIVIDEND:
Due to lackluster performance during the year and because of
non-availability of sufficient cash fund as well as conserve resources
for future, your Directors do not recommends any Dividend for the year
under review.
DEPOSITS:
The Company has not accepted any Deposit from the Public during the
year under review. As on 31 st March. 2014 no unclaimed deposits are
lying with the Company.
PARTICULARS OF EMPLOYEES:
There were no employees in Company during the year under review.
The information as required by provisions of section 217(2A) of the
Companies Act, 1956 read with the Companies (Particular of employees)
amendments rules, 1975 is reported to be NIL.
AUDITORS:
The auditors of the Company M/s. Jain & Co. hold office until the
conclusion of the ensuing Annual General Meeting and are recommended
for re-appointment. The Company has received a certificate from the
Auditors to the effect that their appointment, if made, would be within
the prescribed limits under section 224 (1 -B) of the Companies Act,
1956.
DIRECTOR 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:
a That in the preparation of the annual accounts for the financial year
ended 31 st March, 2013, the applicable accounting standards have been
followed and there has been no material departure;
b That the Directors have selected such accounting policies were
applied consistently and the Directors made judgments and estimates
that are reasonable and prudent so as to give true and fair view of
the state of affairs of the company at the end of financial year and
of profit of the company for that year under review;
c That the directors have taken proper and sufficient care for the
maintenance of the adequate accounting records in accordance with
provisions of the Companies Act, 1956, for safeguarding the assets of
the company and for preventing and detecting fraud and other
irregularities;
d That the annual accounts have been prepared on a
going concern basis.
CORPORATE GOVERNANCE.:
Compliance of Clause 49 is applicable to the company from the current
year and therefore the Company has adopted to follow the requirements
of Corporate Governance as stipulated under clause 49 of the Equity
Listing Agreement of Stock Exchange and accordingly, the Report on
Corporate Governance forms part of the Annual Report.
The requisite certificate from a Practising Company Secretary regarding
compliance with the conditions of Corporate Governance as stipulated in
Clause 49 is annexed to this Report.
PARTICULARS UNDER SECTION 217 (I) (F.) OF THE COMPANIES ACT, 1956
RELATING TO CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN
EXCHANGE EARNING AND OUTGO:
As there is nil expenditure on the points mentioned above, no
particulars furnished in this report as required under Section 217( 1
)(e) of the Companies Act, 1956 read with Companies (Disclosures of
Particulars in the report of the Board of Directors) Rules. 1988
regarding conservation of energy, technology, absorption and foreign
exchange earnings and outgo.
ACKNOWLEDGEMENT:
Your Directors wish to place on record their appreciation towards the
contribution of all the employees of the Company and their gratitude to
the Company''s valued customers, bankers, vendors and members for their
continued support and confidence in the Company
By Order of the Board
For Vishvjyoti Trading Limited
Kislior Gopal Patil
Director
Place: New Delhi
Date: 30.05.2014
Mar 31, 2013
Dear Shareholders,
The Directors have pleasure in presenting the Annual Report and
Audited Statements of Accounts for the financial year ended on 31st
March 2013.
FINANCIAL RESULTS:
(Rs. in Lakhs)
Particulars 2012 -13 2011 -12
Sales and Other Income 11.39 0.01
Profit before Depreciation
and Tax -27.45 -17.96
Depreciation 0.00 0.00
Profit before Tax -27.45 -17.96
Provision for Tax 0 0
Provision for Deferred Tax 0 0
Prior Year Tax Adjustment 0 -0.01
Profit After Tax -27.45 -17.95
Add: Profit brought
forward from previous year -18.86 -0.91
Balance Carried to Balance Sheet (46.31) (18.86)
During the year your Company has received income of Rs.11.39 lakhs as
compared to 0.01 lakhs in previous year and has incurred loss of Rs.
27.45 Lakhs as compared to loss of Rs. 17.95 lakhs during the previous
year.
DIVIDEND:
Due to lackluster performance during the year and because of
non-availability of sufficient cash fund as well as conserve resources
for future, your Directors do not recommends any Dividend for the year
under review.
REVOCATION OF SUSPENSION:
During the year, BSE Limited (BSE), where the Company''s Equity Shares
are listed, have restored the listing status, earlier suspended due to
penal reasons and permitted trading in Equity Shares of the Company
w.e.f. 29.02.2012. Further, the Company''s securities were admitted into
both Central Depository Services (India) Limited as well as National
Securities Depository Limited. Consequently, the securities are now
traded in both physical as well as dematerialised form. The Company has
made payment of annual listing fees to the Stock Exchange.
CHANGES IN THE CAPITAL STRUCTURE:
i. INCREASE IN AUTHORISED CAPITAL
During the year the Authorized Capital of the Company has increased
from Rs.24,50,000 to Rs.15,25,00,000 divided into 1,52,50,000 Equity
Shares of Rs.10 each.
ii. ALLOTMENT OF EQUITY SHARES
During the year pursuant to shareholders approval at their Extra
Ordinary General Meetings held on 26th September, 2012 and 17th
January, 2013 respectively, the Board of Directors at their meeting
held on 16th October, 2012 and 21st February,2013 have allotted
1,50,00,000 Equity Shares of Rs.10 each at par to certain investors and
consequently, the Paid-up capital increased from Rs.24,50,000/- to
Rs.15,24,50,000/-.
BOARD OF DIRECTORS AND CHANGE IN MANAGEMENT:
i. Composition of Board of Directors
The Board comprises of four Directors, of which three are Independent
Directors.
ii. Changes during the year
During the year Mr. Yuvraj Shetty was appointed as Additional Director
of the Company w.e.f. 22nd March, 2013.
Further, none of the Directors of the Company are disqualified under
section 274(1) (g) of the Companies Act 1956.
DEPOSITS:
The Company has not accepted any Deposit from the Public during the
year under review. As on 31st March, 2012 no unclaimed deposits are
lying with the Company.
PARTICULARS OF EMPLOYEES:
There were no employees in Company during the year under review.
The information as required by provisions of section 217(2A) of the
Companies Act, 1956 read with the Companies (Particular of employees)
amendments rules, 1975 is reported to be NIL.
AUDITORS:
The auditors of the Company M/s. Jain & Co. hold office until the
conclusion of the ensuing Annual General Meeting and are recommended
for re-appointment. The Company has received a certificate from the
Auditors to the effect that their appointment, if made, would be within
the prescribed limits under section 224 (1-B) of the Companies Act,
1956.
DIRECTOR''S 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:
a That in the preparation of the annual accounts for the financial year
ended 31st March, 2013, the applicable accounting standards have been
followed and there has been no material departure;
b That the Directors have selected such accounting policies were
applied consistently and the Directors made judgments and estimates
that are reasonable and prudent so as to give true and fair view of the
state of affairs of the company at the end of financial year and of
profit of the company for that year under review;
c That the directors have taken proper and sufficient care for the
maintenance of the adequate accounting records in accordance with
provisions of the Companies Act, 1956, for safeguarding the assets of
the company and for preventing and detecting fraud and other
irregularities;
d That the annual accounts have been prepared on a going concern basis.
CORPORATE GOVERNANCE:
Compliance of Clause 49 is applicable to the company from the current
year and therefore the Company has adopted to follow the requirements
of Corporate Governance as stipulated under clause 49 of the Equity
Listing Agreement of Stock Exchange and accordingly, the Report on
Corporate Governance forms part of the Annual Report.
The requisite Certificate from the Auditors of the Company M/s. Jain &
Co., regarding compliance with the conditions of Corporate Governance
as stipulated in Clause 49 is annexed to this Report.
PARTICULARS UNDER SECTION 217 (1) (E) OF THE COMPANIES ACT, 1956
RELATING TO CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN
EXCHANGE EARNING AND OUTGO:
As there is nil expenditure on the points mentioned above, no
particulars furnished in this report as required under Section
217(1)(e) of the Companies Act,1956 read with Companies (Disclosures of
Particulars in the report of the Board of Directors) Rules, 1988
regarding conservation of energy, technology, absorption and foreign
exchange earnings and outgo.
ACKNOWLEDGEMENT:
Your Directors wish to place on record their appreciation towards the
contribution of all the employees of the Company and their gratitude to
the Company''s valued customers, bankers, vendors and members for their
continued support and confidence in the Company
By Order of the Board
For Vishvjyoti Trading Limited
Sd/-
Place: Delhi Siddharth Panjri
Date: 30.05.2013 Director
Mar 31, 2012
The Directors have pleasure in presenting the 28th Annual Report and
Audited Annual Accounts for the year ended March 31, 2012.
FINANCIAL HIGHLIGHTS
The working results of the company briefly given below:
(Amount in Rs.)
PARTICULARS YEAR ENDED YEAR ENDED
31.03.2012 31.03.2011
Gross Receipts & Other Income 1369 17647278
Less : Expenditure 1797518 17598454
Profit/(Loss) before Taxation (1796149) 48824
Less : Provision for Taxation 960 17213
Profit/(Loss) after Taxation (1795189) 31611
Add : Balance Brought Forward (90906) (122517)
Net Profit / (Loss) carried over to
Balance Sheet (1886095) (90906)
OPERATIONS
Your Company is exploring various business opportunities to secure
business for the Company and striving hard to increase the
profitability of the Company.
DIVIDEND
In view to conserve profit incurred, your Directors have not
recommended any dividend for the year under review.
DIRECTORS
Mr. Rakesh Saxena, Director, retires by rotation and being eligible,
offers himself to be re-appointed in the ensuing Annual General
Meeting.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE
EARNINGS AND OUTGO
In view of the nature of activities which are being carried on by the
Company, Rules 2A and B of the Companies (Disclosure of particulars in
the report of the Board of Directors) Rules, 1988, concerning
conservation of energy and technology absorption respectively, are not
applicable to the Company.
During the year under review, the Company had no foreign exchange
earnings. The Company has not spent any foreign exchange on any
account.
AUDITORS
M/s Jain & Co, Chartered Accountants, who retire at the conclusion of
forthcoming Annual General Meeting and being eligible for
reappointment, have expressed their willingness to be re-appointed as
Statutory Auditors of the Company.
They have furnished a certificate to the effect that the appointment,
if made, would be within the limit prescribed under section 224 (1B) of
the Companies Act, 1956. Your directors recommend their appointment
for another one year.
COMMENTS ON AUDITORS'' REPORT
Auditors'' Report does not contain any reservation, qualification or
adverse remark on the annual accounts for the financial year ended
March 31, 2012, hence no information or explanation is required under
section 217(3) of the Companies Act, 1956.
DEPOSITS
In accordance with the restrictions and applicable provisions, the
Company has neither invited nor accepted any public deposits during the
year.
PARTICULARS OF EMPLOYEES
The Company has not employed any employee during the year and hence no
information under section 217(2A) of the Companies Act, 1956 was
required to be appended 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 that:
i) In the preparation of the annual accounts the applicable accounting
standards have been followed along with proper explanations relating to
material departures;
ii) The Directors have selected such accounting policies and applied
them consistently and made judgment and estimates that are reasonable
and prudent so as to give a true and fair view of the state of affairs
of the Company as at 31st March, 2011 and of the profit of the Company
for the financial year ended on that date;
iii) The 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; and
iv) The Directors have prepared the annual accounts of the Company on a
''going concern'' basis.
ACKNOWLEDGEMENTS
Your Directors would like to thank all associates of your Company for
the support received from them during the year.
For and on behalf of Board of Directors
Vishvjyoti Trading Limited
Date: 1st September, 2012
Place: Delhi Sd/-
Rakesh Saxena
Director
Mar 31, 2011
Dear Members,
The Directors have pleasure in presenting the 27th Annual Report and
Audited Annual Accounts for the year ended March 31, 2011.
FINANCIAL HIGHLIGHTS
The working results of the company briefly given below:
(Amount in Rs.)
PARTICULARS YEAR ENDED YEAR ENDED
31.03.2011 31.03.2010
Gross Receipts & Other Income 17677207 1485533
Less : Expenditure 17628383 537942
Profit/(Loss) before Taxation 48824 947591
Less : Provision for Taxation 17213 140000
Profit/(Loss) after Taxation 31611 807591
Add : Balance Brought Forward (122517) (930108)
Net Profit/(Loss)carried
over to Balance Sheet (90906) (122517)
OPERATIONS
Your Company is exploring various business opportunities to secure
business for the Company and striving hard to increase the
profitability of the Company.
DIVIDEND
In view to conserve profit incurred, your Directors have not
recommended any dividend for the year under review.
DIRECTORS
To strengthen the Board of Directors of the Company, the Company has
appointed Mr. Siddharth Panjri as Additional directors of the Company,
who hold the office till the ensuing Annual General Meeting and being
eligible, offer themselves for being appointed as Directors of the
Company. Mr. Nagaraj Babu M S, director, retires by rotation and being
eligible, offers himself to be re-appointed in the ensuing Annual
General Meeting.
Mr. Suresh Kumar Gupta has resigned as Director of the Company and the
Board place on record its sincere appreciation for valuable services
rendered by him during his tenure as Director of the Company.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE
EARNINGS AND OUTGO
In view of the nature of activities which are being carried on by the
Company, Rules 2A and B of the Companies (Disclosure of particulars in
the report of the Board of Directors) Rules, 1988, concerning
conservation of energy and technology absorption respectively, are not
applicable to the Company.
During the year under review, the Company had no foreign exchange
earnings. The Company has not spent any foreign exchange on any
account.
AUDITORS
M/s Jain & Co, Chartered Accountants, who retire at the conclusion of
forthcoming Annual General Meeting and being eligible for
reappointment, have expressed their willingness to be re-appointed as
Statutory Auditors of the Company.
They have furnished a certificate to the effect that the appointment,
if made, would be within the limit prescribed under section 224 (1B) of
the Companies Act, 1956. Your directors recommend their appointment for
another one year.
COMMENTS ON AUDITORS'' REPORT
Auditors'' Report does not contain any reservation, qualification or
adverse remark on the annual accounts for the financial year ended
March 31, 2011, hence no information or explanation is required under
section 217(3) of the Companies Act, 1956.
DEPOSITS
In accordance with the restrictions and applicable provisions, the
Company has neither invited nor accepted any public deposits during the
year.
PARTICULARS OF EMPLOYEES
The Company has not employed any employee during the year and hence no
information under section 217(2A) of the Companies Act, 1956 was
required to be appended 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 that:
i) In the preparation of the annual accounts the applicable accounting
standards have been followed along with proper explanations relating to
material departures;
ii) The Directors have selected such accounting policies and applied
them consistently and made judgment and estimates that are reasonable
and prudent so as to give a true and fair view of the state of affairs
of the Company as at 31st March, 2011 and of the profit of the Company
for the financial year ended on that date;
iii) The 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; and
v) The Directors have prepared the annual accounts of the Company on a
''going concern'' basis.
ACKNOWLEDGEMENTS
Your Directors would like to thank all associates of your Company for
the support received from them during the year.
For and on behalf of Board of Directors
Vishvjyoti Trading Limited
Sd-
Rakesh Saxena
Director
Date : 18th August 2011
Place: Mumbai
Mar 31, 2010
Dear Members,
The Directors have pleasure to submit their Annual Report together with
the Audited Accounts for the year ended 31st March, 2010.
1. FINANCIAL RESULTS :
2009-2010 2008-2009
(Rs.) (Rs.)
Profit/(Loss) for the year 947591 (288086)
Provision for Taxation (147000) (4690)
Provision for taxation : written back 7000 0
Income Tax for the earlier year 0 (108)
Add : Balance of profit/(Loss) (930108) (637224)
brought forward from last year
Balance carried to Balance Sheet (122517) (930108)
DIRECTORS
In accordance with the provisions of the Companies Act, 1956 and the
Company''s Articles of Association Shri Rakesh Saxena retire by rotation
at the forth coming Annual General Meeting and are eligible for
reappointment.
AUDITORS
M/s Jain & Co. Chartered Accountants, New Delhi, Auditors of the
Company retire at the conclusion of the ensuing Annual General Meeting
of the Company and being eligible offer themselves for re-appointment.
They have also furnished a Certificate to the effect that their re-
appointment if made will within the limits specified in sub-section 1B
of Section 224 of the Companies Act, 1956.
AUDITOR''S REPORT
The observations made by the Auditors in their Report, do not require
any comments as the same are either self-explanatory or have been fully
explained in the notes attached to the Accounts.
DIRECTORS RESPONSIBILITY STATEMENT
Your Directors have report :-
a) In the preparation of the annual accounts for the financial year
ended 31st March, 2010, the applicable accounting standards have been
followed along with proper explanation.
b) That the Directors had selected such accounting policies and applied
them consistently and the judgments and estimated made, are reasonable
and prudent so as 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 that period.
c) That the Directors had taken proper & sufficient care for the
maintenance of adequate accounting record 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.
d) That the Annual Accounts had been prepared on a going concern basis.
COMPLIANCE CERTIFICATE UNDER COMPANIES ACT, 1956 :-
M/s. D. R. Associates, Company Secretaries, have provided Compliance
Certificate under Section 383 A of the Companies Act, 1956, for the
year ended 31st March 2010 which is attached with the report.
PERSONNEL
The Company has no employees of the category specified in Section 217
(2A) of the Companies Act, 1956.
GENERAL
The Business of the Company does not involve any matter with regard to
conservation of energy, technology absorption and foreign exchanges
earning and outgo, and hence the Companies (Declaration of particulars
in the Report of the Board of Directors) Rules 1988 are not applicable.
For and on behalf of Board
Sd/- Sd/-
(Rakesh Saxena) (Nagraj Babu M S)
Director Director
Place : New Delhi
Date : 16th August, 2010
Mar 31, 2009
The directors have pleasure to submit their Annual Report together with
the audited Accounts for the year ended 31st March, 2009.
FINANCIAL RESULT
2008-09 2007-08
(Rs.) (Rs.)
Profit/(Loss) for the year (288086) 46911
Provision for taxation 0 (5000)
Income tax for the earlier year (108) 0
Income Tax (Mat) (4690) (1960)
- Add: Balance of Profit/(Loss)
brought forward from last year (637224) (677175)
Balance carried to Balance
Sheet (930108) (637224)
DIRECTORS
In accordance with the provisions of the Companies Act, 1956 and the
Company''s Articles of Association Shri Rakesh Saxena retire by rotation
at the forthcoming Annual General Meeting and are eligible for
reappointment.
AUDITORS
M/s Jain &. Co., Chartered Accountants, New Delhi, Auditors of the
Company retire at the conclusion of the ensuing Annual General Meeting
of the Company and being eligible offer themselves for re- appointment.
They have also furnished a Certificate to the effect that their
re-appointment if made will be within the limits specified in
Sub-section IB of Section 224 of the Companies Act, 1956.
AUDITOR''S REPORT
a he observations made by the Auditors in their Report, do not require
any comments as the same are either self-explanatory or have been fully
explained in the notes attached to the Accounts.
DIRECTORS RESPONSBILITY STATEMENT
Your Directors hereby report :-
a) In the preparation of the annual accounts for the financial year
ended 31st march, 2009, the applicable accounting standards have been
followed along with proper explanation.
b) That the Directors had selected such accounting policies and applied
them consistently and the judgements and estimated made, are reasonable
and prudent so as 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 that period.
c) That the Directors had taken proper & sufficient care for the
maintenance of adequate accounting record 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.
d) That the Annual Accounts had been prepared on a going concern basis.
COMPLIANCE CERTIFICATE UNDER COMPANIES ACT. 1956 :-
M/s. D R. Associates, Company Secretaries, have provided Compliance
Certificate under Section 383 A of the Companies Act, 1956, for the
year ended 31st March 2009 which is attached with the report.
PERSONNEL
The Company has no employees of the category specified in Section 217
(2A) of the Companies Act, 1956.
GENERAL
The Business of the Company does not involve any matter with regard to
conservation of energy, technology absorption and foreign exchanges earning
and outgo, and hence the Companies (Declaration of particulars in the Report
of the Board of Directors) Rules 1988 are not applicable.
For and on behalf of Board
Rakesh Saxena Nagaraj Babu M S
Director Director
Place: New Delhi
Date: 25-8-2009