The Directors have pleasure in presenting the 28th Annual Report and
Audited Balance Sheet as at 31st March, 2012 and the Profit & Loss
Account for the period ended as on that date.
FINANCIAL RESULTS :
Particulars 31.03.2012 31.03.2011
(Rs. in lacs) (Rs. in lacs)
Total Revenue 229.16 121.78
Profit before Tax 31.94 3.38
Profit for the period 21.93 6.54
As reported earlier, the Company completed the construction work of its
commercial-cum-shopping complex at Noida using the modern technologies
Considering the facts and prevailing circumstances, the Board of
Directors of the Company has not recommended any dividend for the year.
Shri Vivek Garg, Director is to retire by rotation at the ensuing
Annual General Meeting and being eligible offers himself for
Your company has not invited/accepted any fixed deposits as stipulated
under Section 58A of the Companies Act, 1956.
M/s. Doogar & Associates, Chartered Accountants, the Auditors of the
Company will retire at the conclusion of the ensuing Annual General
Meeting and being eligible offer themselves for re- appointment.
Auditors'' observations are self explanatory and are suitably explained
in the notes to the accounts.
LISTING OF SECURITIES
The securities of the Company are presently listed on Bombay Stock
SHARE TRANSFER SYSTEM:
M/s. Beetal Financial & Computer Services (P) Limited engaged by the
Company is acting as Registrar and Share Transfer Agents of the
Company. Transfers, Transmission etc. of shares are approved by the
Shareholders/Investors Grievance Committee of Directors which meets at
a regular interval.
PARTICULARS OF EMPLOYEES:
No employee of the Company is in receipt of excess remuneration of the
limits as stipulated under Section 217 (2A) of the Companies Act, 1956
read with Companies (Particulars of Employees) Rules, 1975.
CORPORATE GOVERNANCE-CLAUSE 49 OF THE LISTING AGREEMENT:
In compliance with Clause 49 of the Listing Agreement with the Stock
Exchange, a report on Corporate Governance along with Auditors
certificate regarding compliance of Corporate Governance as stipulated
under Clause 49 of the Listing Agreement and Management Discussion and
Analysis are annexed as a part of this Annual Report.
SECRETARIAL COMPLIANCE CERTIFICATE
Secretarial Compliance Certificate pursuant to section 383A of the
Companies Act, 1956 issued by VLA & Associates, Company Secretaries is
PARTICULARS OF CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND
FOREIGN EXCHANGE EARNINGS & OUTGO:
As stipulated under 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, information is enclosed.
DIRECTORS'' RESPONSIBILITY STATEMENT :
In compliance with Section 217 (2AA) of the Companies Act, 1956, it is
(i) That in the preparation of the accounts for the financial year
ended 31st March 2012 the applicable accounting standards have been
followed along with proper explanations relating to material departure;
(ii) That the Directors had 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 the year ended under review;
(iii) That the Directors had 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
(iv) That the Directors had prepared the accounts for the financial
year ended 31st March 2012 on a going concern basis except to the
extent as noted in the Auditors'' Report.
Your Directors place on record, their sincere thanks to the Bankers of
the Company and all the employees for their co-operation and support.
For and on behalf of the Board
Place : New Delhi
Date : 30-07-2012