The Directors have pleasure in submitting their Annual Report and
Accounts for the year ended on 31st March, 2012.
31st Year ended
March, 2012 March, 2011
Sales & Other Income from Operation NIL NIL
Other Income 1609205.00 5,60,000.00
Total Expenditure 1563439.00 531394.00
Gross Profit 45766.00 28606.00
Profit before Depreciation 45766.00 28606.00
Depreciation NIL NIL
Profit before Tax 45766.00 28606.00
Provision for Income Tax 14142.00 8900
Provision for Deferred Tax NIL NIL
Provision for Fringe Benefit Tax NIL NIL
Net Profit after Tax 31624.00 19706.00
Prior year-MAT Provision NIL NIL
Surplus brought forward -30985567.00 -31005272.99
Surplus Available(Revaluation Res. & Res. -30953943.00 -30985566.99
Balance carried to Balance Sheet -30953943.00 -30985566.99
During the year the Company has earned other income of Rs 16, 09,205/-.
The Net Profit earned during the year is Rs. 45766.00 as compared to
previous year''s profit of Rs.28606.
In order to conserve the profit for future Growth & Development. The
Company has not recommend any dividend for the financial year
Information on particulars of Employees'' Remuneration as per Section
217(2A) of the Companies Act, 1956 read with Companies (Particulars of
Employees) Rules, 1975 is not applicable to the company as there were
no employees drawing a Salary of Rs. 2,00,000 or more per month.
Mr. Abhishek Lath is eligible to retire by rotation and being offered
himself for re- appointment.
Mr. Vineet Tulsyan is eligible to retire by rotation and being offered
himself for re- appointment.
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to the requirement under section 217 (2AA) of the Companies
Act, 1956, the Directors report that:
i) In the preparation of the annual accounts, the applicable accounting
standards have been followed along with proper explanation relating to
ii) The Directors have selected 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 year;
iii) The Directors have 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;
iv) The Directors have prepared the annual accounts on a going concern
The company has not accepted any fixed deposits from general public
within the purview of Section 58A, of the Companies Act, 1956, during
the year under review.
M/s. Rakesh Soni & Co.., Chartered Accountants, auditors of the Company
will be retiring at the ensuing Annual General Meeting and being
eligible, offer themselves for re-appointment.
LISTING OF EQUITY SHARES:
The equity of your Company is listed on the Stock Exchange, Mumbai &
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE
EARNING & OUTGOINGS
Information pursuant to 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 relating to the foregoing matters is
a) Conservation of energy Nil
b) Technology absorption, research & development Nil
c) Foreign Exchange earning & outgoings
Ended For Year
31st March 31st March 2011
Expenditure- Foreign Travel NIL NIL
Freight Forwarding Expenses NIL NIL
Income- Commission and other income 1450160 560000
In accordance with the provisions of Section 383A of the Companies Act,
1956 and Companies (Compliance Certificate) Rules 2001, the Company has
obtained a certificate from a Company Secretary in whole time practice
and a copy of the said certificate is attached to this report.
Your company''s philosophy on corporate Governance is attainment of the
higher level of transparency, accountability and equity in all spheres
of operations, interactions with the shareholders, employees,
government and others.
For and on behalf of the
Board of Directors
Date: 28.06.2012 Chairman & Managing Director