To The Members of SUVIDHAINFRAESTATE CORPORATION LIMITED
The Board of Directors present herewith the 20th Annual Report along
with Audited Accounts and Report of the Auditors thereon for the year
ended on 31st March 2012.
[Rs. In lacs]
YEAR ENDED YEAR ENDED
PARTICULARS AMT. RS. AMT. RS.
Total Income 3.19 18.49
Expenditure 36.66 92.60
Tax (33.47) (74.11)
Taxation Nil Nil
Less:Short Provision Of Income
Tax Nil Nil
(Loss) After Tax (33.47) (74.11)
Loss Brought Forward From Previous
Year (1008.14) (934.04)
balance Transferred to Balance Sheet (1041.61) (1008.14)
As you are aware, your company was formed for the purpose of carrying
out dairy business. However, the same business incurred a lot of
losses and therefore your directors decided to close down the said
business. Accordingly, the company has started its first business by
converting its existing land on which factory was situated into a
tradeable stock.The company has put up a scheme of selling smaller
plots of land and the response from the market is good. Your directors
are hopeful of better results in the coming years.
In view of the accumulated losses, your directors do not propose
dividend for the year 2011 -12.
There are no deposits which have been matured and claimed by the party
but has remained unpaid on the Balance Sheet date.
Shri Kishorekumar Goswami and Shri Anupkumar Goswami, Directors of the
company retire by rotation at the ensuing Annual General Meeting of the
company and being eligible offers themselves for reappointment.Your
directors commend the resolution.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EARNINGS AND
The particulars relating to Conservation of Energy, Technology
Absorption and Foreign Exchange Earning and Outgo, pursuant to Section
217(1 )(e) of the Companies Act, 1956 are nil.
There is no employee who is in receipt of remuneration exceeding the
limits specified under the Rules pursuant to the provisions of Section
217 (2A) of the Companies Act, 1956.
DIRECTORS'' RESPONSIBILITY STATEMENT PURSUANT TO SECTION 217(2AA) OF THE
COMPANIES ACT, 1956.
The Directors hereby confirm:-
i) that in the preparation of the annual accounts, the applicable
accounting standards had
been followed along with proper explanation relating to material
ii) that the directors had 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 loss of the Company forthat
iii) that 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;
iv) that the directors had prepared the annual accounts on a going
concern basis, even though the company is passing through bad times and
has huge accumulated losses.
M/s J.M. Parikh & Associates, Chartered Accountants, Ahmedabad hold the
office as Auditors until the conclusion of the ensuing Annual General
Meeting and are recommended for reappointment. The company has
received certificate from the said auditors to the effect that their re
appointment. If made, would be within the prescribed limits u/s 224(1
B) of the Companies Act, 1956. Auditors'' remarks are self explanatory.
CORPORATE GOVERNANCE REPORT
A separate report on corporate governance is attached herewith which
may be considered as a part of Directors''Report.
MANAGEMENT DISCUSSIONS ANDANALYSIS REPORT
A separate report on Management Discussions and Analysis is attached
herewith which may be considered as a part of Directors'' Report.
The Board of Directors place on record their appreciation for co-
operation received from its staff, bankers, various parties and
authorities during the year under review.
For and on behalf of the Board
of Directors SUVIDHA INFRAESTATE
Place: Ahmedabad K. K. GOSWAMI
Date: 10/08/2012 Director