To The Members of ADITYA GEARS LTD.
The Directors present the 17th Annual Report of your Company along
with the-Audited Statement of Accounts for the Financial Year ended
March 31, 2012.
The Financial Results are stated as under:
PARTICULARS Year Ended 31.03.2012
(Rs. in Lacs)
Sales & Operating Income Nil
Other Income 12.33
Gross Income/ (Loss) before
Interest, Depreciation and Taxation (0.34)
Interest & Finance Charges (0.01)
Gross Loss after Interest but before
Depreciation and Taxation (0.35)
Provision for Taxation Nil
Net Loss (0.35)
OPERATIONAL PERFORMANCE AND FUTURE OUTLOOK
We are pleased to report that we have undertaken the process of getting
the revocation of suspension of the company''s share at BSE. We have
received the in principle approval for revocation of suspension from
BSE. The due formalities for relisting are under process and very soon
the shares will start trading at BSE. .
Going forward the reconstituted board will bring new vision and we will
now be able to undertake new venture with renewed vigour and proper
ease. The renewed activities will be undertaken after due diligence
after reviving the future prospects of the company.
Your Directors did not recommend any dividend for the year under
The export markets will be explored as the future opportunities
CALL MONEY ARREARS
We request the Share Holders to clear the Call Money who have not done
so yet. The Company urgently needs Capital at this point to achieve the
growth emerging from the forthcoming opportunities.
The Company will now have to initiate forfeiture steps if the money
will not come finally.
The Company needs fresh inflow of fund to meet the capital requirement.
CONSERVATION OF ENERGY
The thrust on energy conservation continues and necessary measures for
optimization of energy consumption have been taken.
PARTICULARS OF EMPLOYEES
None of the employees are covered under section 217(2A) of the
Companies Act, 1956 read with (he Companies (Particulars of Employees)
The following have been appointed w.e.f. 13/02/2012 as Independent and
1. Mr. S. Basu
2. Mr. Satyajit Mishra
3. Mr. Nitin Oza
On 20th July 2012 Mr. Ramesh Mishra has been appointed Additional
Director of the Company, as co-promoter of the Company. Mr. Anant Veer
Harlalka , Ms. Sunita Harlalka & Mr. S. Basu resigned on 20th July,
2012 as Director of the Company.
Mr. Ashok Kumar Harlalka whose term as Managing Director comes to an
end at the forthcoming AGM of 2012. He has expressed his un-willingness
to continue as Managing Director of the company from that date.
DE-LISTING OF THE SHARES
Pursuant to clause 5.2 of the Securities and Exchange Board of India
(Delisting of Securities) Guidelines, 2003, (Delisting Guidelines)
,the company is in the process of making applications for voluntary
delisting of its equity shares from the CalCutta Stock Exchange, Jaipur
Stock Exchange & Ahmedabad Stock Exchange .
The Listing of shares will continue at The Stock Exchange , Mumbai,
(BSE) who has national presence. The Company already made an
application for revocation of suspension of trading at BSE and for
connectivity to NSDL & CDSL.
ENERGY, TECHNOLOGY AND FOREIGN EXCHANGE :
As required by the Companies (Disclosure of Particulars in the Report
of Board of Directors) Rules, 1988 the relevant information pertaining
to conservation of energy, technology absorption, foreign exchange
earnings and outgo are as follows:
A) CONSERVATION OF ENERGY:
The Company continues its policy of encouraging energy conservation
measures. The regular review of energy consumption and the systems
installed to control utilization of energy is undertaken.
B) RESEARCH DEVELOPMENT ACTIVITIES :
Continuous efforts are being made to improve reliability and quality
through in-house R&D efforts.
C) TECHNOLOGY ABSORPTION :
The Company will equip with technologies from world''s leading
D) FOREIGN EXCHANGE EARNINGS & OUTGO :
There are no foreign exchange earnings and outgo during the year under
M/s. Bhattacharya Sengupta & Co resigned as Statutory Auditor of the
company due to pre-occupation and the Board has re-commended the
appointment of M/s. K.M. Tapuriah & Co. as statutory Auditor of the
company for the financial year 2012 -13.
DIRECTORS'' RESPONSIBILITY STATEMENT
To the best of their knowledge and belief and according to the
information and explanations obtained by them, your Directors make the
following statement in terms of section 217 (2AA) of the Companies Act,
a) That in the preparation of the Annual Accounts for the year ended
31st March''2012, the applicable accounting standards have been
b) That such accounting policies have been selected and applied
consistently and judgments and estimates that are reasonable and
prudent made so as to give a true and fair view of the state of affairs
of the Company at the end of the financial year ended 31st March''2012,
and of the profit of the Company for the year;
c) That proper and sufficient care has been taken 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;
d) That the Annual accounts for the year ended 31st March, 2012 have
been prepared on a going concern basis.
The Board of Directors expressed their sincere gratitude to its
employees, suppliers, share holders, bankers and other government
agencies for their continued support.
For and on behalf of the Board
Place : Kolkata ASHOK KUMAR HARLALKA
The 20th July, 2012 Chairman