The Directors take pleasure in presenting the 27th Annual report and
the Audited Statement of Accounts for the year ended 31st March 2012.
The financial results of the Company''s operation during the year
under review and those of the previous year are given below.
(Rs. In Lacs)
Current Year Previous year
31.03.2012 on 31.03.2011
Gross Revenue 1,796.70 9,088.07
Other Income 22.09 17.40
Total 1,818.79 9,105.47
Less: Expenditure 2,357.49 8,663.10
Gross Profit/(Loss) (538.70) 442.37
Less : Depreciation 31.55 433.65
Net Profit / (Loss) before Tax (570.25) 8.72
Less : Provision for Income Tax & FBT - 1.62
Add: Deferred Tax 167.16 63.84
Net Profit / (Loss) after tax (PAT) (403.09) 70.94
Add : Balance B/F from Previous Year 136.52 65.58
Less: Adj. for Earlier Year Income Tax - -
Balance carried to Balance Sheet (266.57) 136.52
Earning Per Share 0.00 0.00
There being a resultant Loss during the year, your Directors have
decided not to recommend any dividend for the year ended.
REVIEW OF OPERATIONS
During the year under review, the company incurred serious fall in
revenue due to prevailing uncertainty in the Capital market which
resulted in a negative return on capital, your directors are however
optimistic about regaining the position through diversification and
concentration of its focus on it training and solution which has a wide
Sri T. Chowdhury, Director of the company retires by rotation at the
forthcoming Annual General Meeting and being eligible offers herself
Mr. Bibhas Bera who was appointed as an additional Director during the
year retires at the conclusion of the forth coming Annual General
Meeting. Whereas the Company has received a notice u/s 257 of the
Companies Act, 1956 from a member proposing appointment of Mr. Bera as
a rotational Director in the forth coming Annual General Meeting
particulars of Directors seeking appointment / re-appointment has been
detailed in the notice to Notice convening the Annual General Meeting
in due Compliance of Clause 49 of the Listing Agreement.
During the year Mrs. Kavita Saraogi, Director of the Company vacated
her office through resignation due to her other engagements. The
Directors puts on record its sincere appreciation of the valuable
guidance offered by Mrs. Saraogi during the tenure of her office.
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to requirements under section 217(2AA) of the Companies Act,
1956 with respect to Directors Responsibility Statement it is hereby
a) in the preparation of Annual Accounts for the Financial Year
2011-2012 the applicable Accounting Standards had been followed and no
material departures have been made from the same;
b) they have selected such accounting policies and applied them
consistently and made judgments 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 the profit and loss of
the company for that period;
c) to the best of their knowledge and information , they 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
d) they have prepared the Annual Accounts on a going concern basis.
The company has not accepted and / or renewed any deposit from the
public during the period nor was their any carried forward balance at
the end of year.
AUDITORS & THEIR REPORT :
The Auditors of the Company M/s. Rajendra Chowdhury & Co. Chartered
Accountant vacated the office consequent to the sudden devise of the
proprietor Mr. Rajendra Chowdhury. In the casual vacancy caused thereby
M/s. Ranjit Jha & Associates, Chartered Accountants were appointed in
terms of Section 224 of the companies Act, 1956 who retires at the
conclusions of the next Annual General Meeting. The retiring Auditors
M/s. Ranjit Jha & Associates, Chartered Accountants, being eligible
after themselves for re-appointment and have notified that such
reappointment will be within the limits prescribed u/s 224(1 B) of the
Act. The reports of the Auditors when read with the notes forming point
of the audited statements of Accounts are self explanatory and needs no
The reports of the Auditors when read with the notes on Accounts are
self explanatory and need no further explanation.
The Company did not default in the payment of interest and / or
repayment of loan to any of the financial Institutions and / or banks
during the period under review.
Your Company has taken adequate steps to ensure that all mandatory
provisions of Corporate Governance, as provided under the amended
Clause 49 of the Listing Agreement with the Stock Exchanges, are duly
A separate report on Corporate Governance along with auditors''
certificate for its due compliance and Managements'' Discussion and
Analysis are annexed hereto and form part of this Annual Report.
CORPORATE SOCIAL RESPONSIBILITY (CSR)
Your company is committed to play its role as an enlightened corporate
citizen and continued to earmark activities for Social and inclusive
Development mainly in the area of education, particularly education of
During the year under review, your Company in collaboration with
employees of the Company, for supporting NGOs/charitable organizations
working in the fields of education, health, environment and child
welfare, provided financial aid to these organizations.
(1) CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION
The company being engaged in non- manufacturing activities, the
information required under the provisions of section 217(1 )(e) of the
Companies Act, 1956 read with the Companies (Disclosure of particulars
in the report of the Directors) Rules 1988, relating to conservation of
energy, etc is not required. The particulars of Foreign Exchange
earnings and outgo are given hereunder:-
(2) FOREIGN EXCHANGE INCOME AND OUTGO
Current Year Previous Year
Foreign Exchange Earned : Rs. NIL Rs. NIL
Foreign Exchange Outgo : Rs. NIL Rs. NIL
(3) EMPLOYEES PARTICULARS
The company having no employee drawing salaries in excess of Rs.
24,00,000 p.a. or Rs.2,00,000 per month for a part of the year, the
provisions U/S 217(2A) of the Companies Act, 1956 are not attracted.
During the period under review, your company maintained healthy,
cordial and harmonious industrial relations at all levels. The
enthusiasm and unstinting efforts of the employee have enabled your
Company to remain at the forefront of the industry. Your Directors
record their appreciation for their hard work and efficiency.
We wish to place on record our appreciation for the continued
assistance and co-operation extended to the Company by the Government
of India, State Governments, Financial Institutions and Banks, dealers
and customers, shareholders and to all others who are continuing their
assistance to the Company.
For and on behalf of the Board
Place : Kolkata SUSHIL K SARAOGI
Date : 18th August, 2012 (MANAGING DIRECTOR)