Mar 31, 2014
Dear Members,
The Directors have pleasure in presenting the 31st Annual Report of
your Company together with the Audited Statements of Accounts for the
year ended 31st March 2014.
(Rs. in Lac)
FINANCIAL HIGHLIGHTS Year Ended Year Ended
31.03.2014 31.03.2013
Income 0.70 13.05
Profit/(Loss) before Tax &
Extraordinary Items (12.52) (1732.59)
Less : Provision for Taxation 0.00 0.00
Profit/(Loss) after Tax (12.52) (1732.59)
Add : Balance brought forward from
Previous Year (2556.31) (823.72)
Balance carried forward to Next Year (2568.83) (2556.31)
OVERVIEW OF ECONOMY
India''s economic growth remained below 5.00 percent mark second year in
a row at 4.7 percent in 2013-14, but the industry is hopeful of a
rebound with a new stable government who is expected to be considered
pro-business.
India''s fourth quarter growth stood at 4.6 percent. Decline in
manufacturing and mining output eclipsed the overall growth during the
entire fiscal. The country''s economy, or gross domestic product (GDP),
had expanded at 4.5 percent in 2012-13, the slowest pace in the
previous decade.
Subdued prices of vegetables, cereals and dairy products pushed down
retail inflation to a three-month low of 8.28 percent in May. Retail
inflation, measured on consumer price index (CPI), was 8.59 percent in
April.
In February 2014, retail inflation was at 8.03 percent, followed by
consecutive rise in March (8.31 percent) and in April, it was 9.66
percent as per the data released by government.
OVERALL PERFORMANCE & OUTLOOK
The Business environment was continued to remain bearish and lack of
working capital and non- arrangements of Fund from Banks / Financial
Institutions has impacted the overall performance for 2013-2014.
Gross Income during the year was Rs. 0.70 Lac in comparison to last
financial year of Rs. 13.05 Lac. However in term of Net Earnings, the
Company has incurred further loss of Rs. 12.52 Lac in comparison to
last years'' loss of Rs. 1732.59 Lac.
The Company has been declared as sick unit by the Government
Authorities and is under liquidation. Looking to the scenario, very
little hope is left out in term of revival of the Company.
DIVIDEND
Due to carried forward losses and because of suffering losses during
the Current Year, your Directors do not recommend any Dividend during
the year under review.
SUBSIDIARY COMPANY
The Company does not have any Subsidiary Company.
MANAGEMENT DISCUSSIONS & ANALYSIS
As required by Clause 49 of Listing Agreement, the Management
Discussion and Analysis is annexed and forms part of the Directors''
Report.
MANAGEMENT
There is no Change in Management of the Company during the year under
review.
DIRECTORS
In accordance with the provisions of Act and Articles of Association of
your Company, Mr. Kailash Prasad Purohit, Director of your Company,
retires by rotation and are due for election at the ensuring Annual
General Meeting. Mr. Kailash Prasad Purohit, being eligible, offers
himself for re- appointment.
The Board recommends the appointment of Mr. Kailash Prasad Purohit
pursuant to the applicable provisions of the Act. The resolutions
seeking your approval on this item along with the requisite
disclosures/explanatory statement are included in the Notice for
convening the Annual General Meeting.
Further, none of the Directors of the Company are disqualified under
sub-section (2) of Section 164 of the Companies Act, 2013.
INDEPENDENT DIRECTORS
As per provisions of Section 149 of the 2013 Act, independent directors
shall hold office for a term up to five consecutive years on the board
of a company, but shall be eligible for re-appointment for another term
up to five years on passing of a special resolution by the company and
disclosure of such appointment in Board''s Report. Further Section 152
of the Act provides that the independent directors shall not be liable
to retire by rotation in the Annual General Meeting (''AGM'') of the
Company.
As per Revised Clause 49 of the Listing Agreement (applicable from
October 1, 2014), any person who has already served as independent
director for five years or more in a company as on October 1, 2014
shall be eligible for appointment, on completion of the present term,
for one more term of up to 5 (five) years only.
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to Section 217 (2AA) of the Companies (Amendment) Act, 2000
the Directors confirm that:
1. In the preparation of the annual accounts, for the year ended 31st
March 2014, all the applicable accounting standards prescribed by the
Institute of Chartered Accountants of India have been followed;
2. The Directors had adopted 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;
3. 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; and
4. The Directors had prepared the annual accounts on a going concern
basis.
STATUTORY INFORMATION
As the Company is having no business activity during the year under
review apart from rare activities in Capital Market, requirement of
disclosures of Particulars of conservation of energy and technology
absorption prescribed by the rule is not applicable to us.
INFORMATION TECHNOLOGY
Your Company believes that in addition to progressive thought, it is
imperative to invest in Information and Technology to ascertain future
exposure and prepare for challenges. In its endeavor to obtain and
deliver the best, your Company has tie-ups with an IT solution Company
to harness and tap the latest and the best of technology and
deploy/absorb technology wherever feasible, relevant and appropriate.
RESEARCH & DEVELOPMENT
The Company believes that technological obsolescence is a reality. Only
progressive research and development will help us to measure up to
future challenges and opportunities. We invest in and encourage
continuous innovation. During the year under review, expenditure on
research and development is not significant in relation to the nature
size of operations of your Company.
AUDITORS
The Auditors M/s B. S. Kedia & Co., Chartered Accountants, Kolkata who
are Statutory Auditors of the Company and holds the office until the
conclusion of ensuing Annual General Meeting and are recommended for
re-appointment to audit the accounts of the Company from the conclusion
of the 22nd Annual General Meeting up to the conclusion of the 27 th
consecutive Annual General Meeting (subject to ratification by the
members at every subsequent AGM). As required under the provisions of
Section 139 & 142 of the Companies Act, 2013 the Company has obtained
written confirmation from M/s. B. S. Kedia & Co, that their
appointment, if made, would be in conformity with the limits specified
in the said Section.
The shareholders are requested to appoint Auditors and fix their
remuneration.
COMMENTS ON AUDITOR''S REPORT:
The notes referred to in the Auditor''s Report are self explanatory and
as such they do not call for any further explanation as required under
section 217 (3) of the Companies Act, 1956.
PARTICULARS OF EMPLOYEES
People are the backbone of our operations. It is a matter of great
satisfaction for our Company that our employees have been very
supportive of the Company''s plan. By far the employee''s relations have
been cordial throughout the year.
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.
PARTICULARS UNDER SECTION 217 (1) (e) OFTHE COMPANIES ACT, 1956
The Company is having no business other than the business of Investing
in Securities Market during the year under review and hence the
information regarding conservation of energy, Technology Absorption,
Adoption and innovation, the information required under 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, is reported to be NIL.
FOREIGN EXCHANGE EARNINGS AND OUTGO
The Company has not earned or used foreign exchange earnings/outgoings
during the year under review.
PUBLIC DEPOSITS
During the year under review, your Company has not accepted any
deposits from the public within the meaning of section 58A of the
Companies Act 1956 and the rules there under.
REPORT ON CORPORATE GOVERNANCE
The Company conforms to the norms of Corporate Governance as envisaged
in the Companies Act, 1956 and the Listing Agreement with the Bombay
Stock Exchange Limited. Pursuant to Clause 49 of the Listing Agreement,
a Report on the Corporate Governance and the Auditors Certificate on
Corporate Governance are annexed to this report.
APPRECIATION
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.
Kolkata, May 30, 2013 By order of the Board
For Warner Multimedia Limited
Registered Office : Jagdish Prasad Purohit
75C, Park Street, Basement (DIN : 00083125)
Kolkata-700 016. Chairman & Managing Director
Mar 31, 2013
To The Members,
The Directors have pleasure in presenting the Thirtieth Annual Report
of your Company together with the Audited Statements of Accounts for
the year ended March 31, 2013.
(Rs.in Lacs)
Financial Results Year Ended Year Ended
31.03.2013 31.03.2012
Income 13.05 15.34
Profit/(Loss) before Tax
& Extraordinary Items (1732.59) (1.33)
Less : Provision for Taxation 0.00 0.00
Profit/(Loss) after Tax (1732.59) (1.33)
Add : Balance brought forward
from Previous Year (823.72) (822.39)
Balance carried forward to Next Year (2556.31) (823.72)
OVERVIEW OF ECONOMY
According to the latest estimates, Indian Economy grew by 5% in FY
2013, reflecting lower than expected growth in both industry and
services sectors. Inflation also was at elevated levels. However with
commodity and crude oil prices on the decline from the peak and with
various policy initiatives coming through, the Economy is estimated to
grow by around 6% in FY2014 with lower Inflation.
OVERALL PERFORMANCE & OUTLOOK
The Business environment remains extremely challenging and the
recessionary economic conditions leading to slowdown in demand and
inflation pushed scale up of input costs left its adverse imprint on
overall performance for 2012-2013.
Gross Income during the year was Rs. 13.05 Lac in comparison to last
financial year of Rs. 15.34 Lac. However in term of Net Profit, the
Company has incurred a significantly loss of Rs. 1732.59 Lac on account
of sale of its entire un-quoted investments except its Investment in
JMD Sounds Limited.
The Company is in talk with REC for settlement of its dues and only
after finalizing the same, the Company will be able to comment on the
future plan. As on date the Company has no revival plans whatsoever due
to fear of seizing the same by REC.
DIVIDEND
Due to loss in the current financial year as well as due to lack of
working capital, your Directors do not recommend any Dividend during
the year under review.
SUBSIDIARY COMPANY
The Company does not have any Subsidiary Company.
MANAGEMENT DISCUSSIONS & ANALYSIS
As required by Clause 49 of Listing Agreement, the Management
Discussion and Analysis is annexed and forms part of the Directors''
Report.
MANAGEMENT
There is no Change in Management of the Company during the year under
review.
DIRECTORS
In accordance with the provisions of Act and Articles of Association of
your Company, Mr. Dhruva Narayan Jha, Director of your Company,
retires by rotation and are due for election at the ensuring Annual
General Meeting. Mr. Dhruva Narayan Jha, being eligible, offers himself
for re-appointment.
The Board recommends the appointment of Mr. Dhruva Narayan Jha pursuant
to the applicable provisions of the Act. The resolutions seeking your
approval on this item along with the requisite disclosures/explanatory
statement are included in the Notice for convening the Annual General
Meeting.
Further, none of the Directors of the Company are disqualified under
section 274(1)(g) of the Companies Act 1956.
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to Section 217 (2AA) of the Companies (Amendment) Act, 2000
the Directors confirm that:
1. In the preparation of the annual accounts, for the year ended 31st
March 2013, all the applicable accounting standards prescribed by the
Institute of Chartered Accountants of India have been followed;
2. The Directors had adopted 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 that period;
3. 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; and
4. The Directors had prepared the annual accounts on a going concern
basis.
STATUTORY INFORMATION
As the Company is having no business activity during the year under
review, requirement of disclosures of Particulars of conservation of
energy and technology absorption prescribed by the rule is not
applicable to us.
INFORMATION TECHNOLOGY
Your Company believes that in addition to progressive thought, it is
imperative to invest in Information and Technology to ascertain future
exposure and prepare for challenges. In its endeavor to obtain and
deliver the best, your Company has tie-ups with an IT solution Company
to harness and tap the latest and the best of technology and
deploy/absorb technology wherever feasible, relevant and appropriate.
RESEARCH & DEVELOPMENT
The Company believes that technological obsolescence is a reality. Only
progressive research and development will help us to measure up to
future challenges and opportunities. We invest in and encourage
continuous innovation. During the year under review, expenditure on
research and development is not significant in relation to the nature
size of operations of your Company.
AUDITORS
The Auditors M/s B. S. Kedia & Co., Chartered Accountants, Kolkata
holds the office until the conclusion of ensuing Annual General
Meeting. Your Company has received certificate from the Auditors U/S
224(1B) of the Companies Act, 1956 to the effect that their
reappointment if made, will be within the limit prescribed. The
shareholders are requested to appoint Auditors and fix their
remuneration.
COMMENTS ON AUDITOR''S REPORT :
The notes referred to in the Auditor''s Report are self explanatory and
as such they do not call for any further explanation as required under
section 217(3) of the Companies Act, 1956.
PARTICULARS OF EMPLOYEES
People are the backbone of our operations. It is a matter of great
satisfaction for our Company that our employees have been very
supportive of the Company''s plan. By far the employee''s relations have
been cordial throughout the year.
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.
PARTICULARS UNDER SECTION 217 (1) (E) OF THE COMPANIES ACT, 1956
The Company is having no business other than the business of Investing
in Securities Market as well as to lend money to Corporate and HNIs
during the year under review and hence the information regarding
conservation of energy, Technology Absorption, Adoption and innovation,
the information required under 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, is reported to be NIL.
FOREIGN EXCHANGE EARNINGS AND OUTGO
The Company has not earned or used foreign exchange earnings/outgoings
during the year under review.
PUBLIC DEPOSITS
During the year under review, your Company has not accepted any
deposits from the public within the meaning of section 58A of the
Companies Act 1956 and the rules there under.
REPORT ON CORPORATE GOVERNANCE
The Company conforms to the norms of Corporate Governance as envisaged
in the Companies Act, 1956 and the Listing Agreement with the Calcutta
Stock Exchange Association Ltd. (CSE) and Bombay Stock Exchange Ltd.
(BSE). Pursuant to Clause 49 of the Listing Agreement, a Report on the
Corporate Governance and the Auditors Certificate on Corporate
Governance are annexed to this report.
APPRECIATION
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.
Kolkata, May 30, 2013 By order of the Board
For Warner Multimedia Limited
Registered Office :
75C, Park Street, Basement Jagdish Prasad Purohit
Kolkata-700 016. Chairman & Managing Director
Mar 31, 2012
To The Members,
The Directors have pleasure in presenting the Twenty Ninth Annual
Report of your Company together with the Audited Statements of Accounts
for the year ended March 31, 2012.
(Rs. in Lacs)
Financial Results Year Ended Year Ended
31.03.2012 31.03.2011
Income 15.34 4.01
Profit/(Loss) before Tax & Extraordinary Items (1.33) (854.69)
Less : Provision for Taxation 0.00 0.00
Profit/(Loss) after Tax (1.33) (854.69)
Add : Balance brought forward from
Previous Year (822.39) 32.30
Balance carried forward to Next Year (823.72) (822.39)
BUSINESS OPERATIONS
Virtually there were no business activities during the year under
review. During previous the Company disposed off its Plant & Machinery
of Wind Project and other Assets were being seized by REC due to
non-payment of Loan taken from REC. Even the investments in un-quoted
Shares were being disposed off and by this the Company has lost almost
of its entire working Capital. Whatever income during the year was on
account of commission on few dealings and interest income on lending
fund, the Company received by way of sale of un-quoted shares. This
income was also set-off as against Expenses for the year and thus the
Net revenue for the year remains in negative.
FUTURE PLANS
The Company is in talk with REC for settlement of its dues and only
after finalizing the same, the Company will be able to comment on the
future plan. As on date the Company has no revival plan whatsoever due
to fear of seizing the same by REC.
DIVIDEND
Due to loss in the current financial year as well as due to lack of
working capital, your Directors do not recommend any Dividend during
the year under review.
SUBSIDIARY COMPANY
The Company does not have any material non-listed Indian subsidiary
whose turnover or net worth (i.e. paid-up capital and free reserves
exceeding 20% of the consolidated turnover or networth respectively, of
the listed holding company and its subsidiaries in the immediately
preceding accounting year.
MANAGEMENT DISCUSSION & ANALYSIS
As required by Clause 49 of Listing Agreement, the Management
Discussion and Analysis is annexed and forms part of the Directors'
Report.
MANAGEMENT
There is no Change in Management of the Company during the year under
review.
DIRECTORS
In accordance with the provisions of Act and Articles of Association of
your Company, Mr. Jagdish Prasad Purohit, Director of your Company,
retires by rotation and are due for election at the ensuring Annual
General Meeting. Mr. Jagdish Prasad Purohit, being eligible, offers
himself for re-appointment.
The Board recommends the appointment of Mr. Jagdish Prasad Purohit
pursuant to the applicable provisions of the Act. The resolutions
seeking your approval on this item along with the requisite
disclosures/explanatory statement are included in the Notice for
convening the Annual General Meeting.
Further, none of the Directors of the Company are disqualified under
section 274(1)(g) of the Companies Act 1956.
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to Section 217 (2AA) of the Companies (Amendment) Act, 2000
the Directors confirm that:
1. In the preparation of the annuals accounts, for the year ended 31st
March 2012, all the applicable accounting standards prescribed by the
Institute of Chartered Accountants of India have been followed;
2. The Directors had adopted 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 that period.
3. 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.
4. The Directors had prepared the annual accounts on a going concern
basis.
STATUTORY INFORMATION
As the Company is having no business activity during the year under
review, requirement of disclosures of Particulars of conservation of
energy and technology absorption prescribed by the rule is not
applicable to us.
INFORMATION TECHNOLOGY
Your Company believes that in addition to progressive thought, it is
imperative to invest in research and development to ascertain future
exposure and prepare for challenges. In its endeavor to obtain and
deliver the best, your Company has entered into alliances/tie-ups with
an IT solution Company to harness and tap the latest and the best of
technology in the world and deploy/absorb technology wherever feasible,
relevant and appropriate.
RESEARCH & DEVELOPMENT
The Company believes that technological obsolescence is a reality. Only
progressive research and development will help us to measure up to
future challenges and opportunities. We invest in and encourage
continuous innovation. During the year under review, expenditure on
research and development is not significant in relation to the nature
size of operations of your Company.
AUDITORS
The Auditors M/s B. S. Kedia & Co., Chartered Accountants, Kolkata
holds the office until the conclusion of ensuing Annual General
Meeting. Your Company has received certificate from the Auditors U/S
224(1B) of the Companies Act, 1956 to the effect that their
reappointment if made, will be within the limit prescribed. The
shareholders are requested to appoint Auditors and fix their
remuneration.
COMMENTS ON AUDITOR'S REPORT :
The notes referred to in the Auditor's Report are self explanatory and
as such they do not call for any further explanation as required under
section 217(3) of the Companies Act, 1956.
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.
PARTICULARS UNDER SECTION 217 (1) (E) OF THE COMPANIES ACT, 1956
The Company is having no business other than the business of Investing
in Securities Market as well as to lend money to Corporate and HNIs
during the year under review and hence the information regarding
conservation of energy, Technology Absorption, Adoption and innovation,
the information required under 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, is reported to be NIL.
FOREIGN EXCHANGE EARNINGS AND OUTGO
The Company has not earned or used foreign exchange earnings/outgoings
during the year under review.
PUBLIC DEPOSITS
During the year under review, your Company has not accepted any
deposits from the public within the meaning of section 58A of the
Companies Act 1956 and the rules there under.
REPORT ON CORPORATE GOVERNANCE
The Company conforms to the norms of Corporate Governance as envisaged
in the Companies Act, 1956 and the Listing Agreement with the Bombay
Stock Exchange Limited. Pursuant to Clause 49 of the Listing Agreement,
a Report on the Corporate Governance and the Auditors Certificate on
Corporate Governance are annexed to this report.
APPRECIATION
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.
Kolkata, June 30, 2012 By order of the Board
For Warner Multimedia Limited
Registered Office :
75C, Park Street, Basement Jagdish Prasad Purohit
Kolkata-700 016. Chairman & Managing Director
Mar 31, 2010
The Directors have pleasure in presenting the Twenty Seventh Annual
Report of your Company together with the Audited Statements of Accounts
for the year ended March 31, 2010.
(Rs. in Lacs)
Financial Results Year Ended Year Ended
31.03.2010 31.03.2009
Income 3.59 3.96
Profit before Tax & Extraordinary Items (15.18) (6.14)
Less : Provision for Fbt 0.00 0.11
Profit after Tax (15.18) (6.25)
Add : Balance brought forward from
Previous Year 47.62 53.98
Less : Prior Period Adjustments (0.13) 0.00
Balance carried forward to Next Year 32.30 47.62
DIVIDEND
Due to Loss incurred during the year, your Directors do not propose any
dividend for the year under review.
FIXED DEPOSITS
The Company has not taken any fixed deposits from public during the
year.
DIRECTORS
There is no change in composition of Board during the year under
review.
In accordance with the requirements of the Companies Act, 1956 and as
per the provisions of Articles of Association Mr. Dhruva Narayan Jha
who retires by rotation is eligible, offers himself for reappointment.
None of the Directors are interested in re-appointment of Mr. Dhruva
Narayan Jha.
Further, non of the Directors of the Company are disqualified under
section 274(1 )(g) of the Companies Act 1956.
AUDITORS
Auditors M/s Manbendra Bhattacharyya & Co., Chartered Accountants,
Kolkata holds the office until the conclusion of ensuing Annual General
Meeting. Members are requested to appoint new Auditors in place of M/s.
Manbendra Bhattacharyya & Co. and fix their remuneration.
COMMENTS ON AUDITORS REPORT
The notes referred to in the Auditors Report are self explanatory and
as such they do not call for any further explanation as required under
section 217(3) of the Companies Act, 1956.
CORPORATE GOVERNANCE
Your Company follows the principles of the effective corporate
governance practices. The Clause 49 of Listing Agreement deals with the
Corporate Governance requirements which every publicly listed Company
has taken steps to comply with the requirements of the revised Clause
49 of the Listing Agreement with the Stock Exchange.
A separate section on Corporate Governance forming part of the
Directors Report and the certificate from the Companys Auditors on
Corporate Governance as stipulated in Clause 49 of the Listing
Agreement is included in the Annual Report.
HUMAN RESOURCES
The Company takes pride in the commitment, competence and dedication
shown by its employees in all areas of business. Various HR initiatives
are taken to align the HR policies to the growing requirements of the
business.
The Company has a structured induction process and management
development programmes to upgrade skills of managers. Objective
appraisal systems are in place for senior management system.
STATUTORY INFORMATION
The Company being basically in the financial sector, requirement,
regarding and disclosures of Particulars of conservation of energy and
technology absorption prescribed by the rule is not applicable to us.
PARTICULARS OF EMPLOYEES
The relations remain cordial throughout the year between employees and
the management.
The information as required by provisions of section 217(2A) of the
Companies Act, 1956 read with the companies (Particular of employees)
amendments rules, 1988 is reported to be NIL.
Particulars under Section 217 (1) (e) of the Companies Act, 1956
The Company is engaged in the business of shares and securities broking
hence the information regarding conservation of energy, Technology
Absorption, Adoption and innovation, the information required under
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, is reported to be NIL.
The Company has not earned or used foreign exchange earnings/outgoings
during the year under review.
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to Section 217 (2AA) of the Companies (Amendment) Act, 2000
the Directors confirm that:
1. In the preparation of the annuals accounts for the year ended 31st
March 2010, all the applicable accounting standards prescribed by the
Institute of chartered Accountants of India have been followed ;
2. The Directors had adopted 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 that period.
3. 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.
4. The Directors had prepared the annual accounts on a going concern
basis.
APPRECIATION
The Board of Directors wishes to convey their appreciation to all the
Companys employees for their performance and continued support. The
Directors would also like to thank all the Shareholders, Consultants,
Customers, Vendors, Bankers, Service Providers, and Governmental and
Statutory Authorities for their continued support.
Kolkata, May 31, 2010 By order of the Board
For Warner Multimedia Limited
Registered Office :
75C, Park Street, Basement Jagdish Prasad Purohit
Kolkata-700 016. Chairman & Managing Director