To The Members of Bridge Securities Limited
The directors have pleasure in presenting their Seventeen Annual
Report together with Audited Accounts for the year ended on 31st March,
The financial result of the company for the year under review is
summarized here in below for your consideration.
Year ended on 31st March, 2012 (Rs .)
Total Income 46,37,035
Total Expenditures 72,19,356
Profit / (Loss) during the year (26,57,007)
In view of brought forward losses your directors do not recommend any
The year under review was a buoyant year for the capital markets. The
Bombay Sock Exchange Sensitive Index touched heights, Yours directors
put in all there possible efforts to earn as much profits as possible
during the year, However in the closing Stages of the year the market
was not that high as expected and due to the same profits as
anticipated /Planned was not earned.
A separate section on corporate governance and a certificate from the
Auditors of the Company regarding Compliance of Conditions of Corporate
Governance as stipulated under clause 49 of the listing agreement with
the Stock Exchanges, form part of annual report.
At the ensuing annual general meeting, Mr. Hemant P. Shah Director of
the company will retire by rotation and being eligible, offers herself
DIRECTORS RESPONSIBILITY STATEMENT:
As per Section 217(2AA) of the companies Act, 1956, the Board of
Directors report that:
1) In the preparation of the annual accounts, the applicable accounting
standards have been followed along with proper explanation relating to
2) Appropriate accounting policies have been selected and applied
consistently and such judgments and estimates have been made 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 or loss of the company for that period:
3) Proper and sufficient care has been taken for maintenance of
adequate accounting records in accordance with the provisions of the
Act for safeguarding the assets of the company and for preventing and
detecting fraud and other irregularities
4) The annual accounts have been prepared on a going concern basis.
M/s. ASHVIN K YAGNIK & CO, Chartered Accountants, Ahmedabad, the
auditors of the company retires at the annual general meeting and is
eligible for reappointment. You are requested to appoint auditors and
authorize the Board of Directors to fix their remuneration.
As no employee of the Company was in receipt of gross remuneration of
Rs.2,00,000/- or more per annum during the year, provision of section
217(2A) of the Companies Act, 1956 read with the Companies (Particulars
of Employees) Rule 1957 are NIL.
The Company (Disclosure of Particulars under Report of Directors) Rule
1988, regarding the Conservation of energy, technology absorption is
not applicable to the company. The Company has neither any earning nor
any outflow of foreign exchange during the year under review.
In accordance with Listing Agreement with the Sock Exchanges, It is
hereby confirmed that the shares of the company are listed on following
Stock Exchange and there are no arrears of listing fees:
1. Ahmedabad Stock Exchange, Ahmedabad
2. Bombay Stock Exchange, Mumbai
3. Vadodara Stock Exchange, Vadodara
The Board to express it sincere appreciation to all the staff members
for their contribution to the performance of the company and to valued
clients, bankers and shareholders for their continued support.
For and on behalf of Board of Directors
Place: Ahmedabad Mr. Pragnesh R. Shah
Date: 14/05/2012 Chairman & Managing Director