The Directors have great pleasure in presenting the 23rd Annual Report
of the Company together with the Audited Balance Sheet of the Company
as at 31st March, 2012, the Profit and Loss Account for the year ended
on that date and the Auditors'' Report thereon.
PARTICULARS 2011-12 2010-11
Net Sales _ _
Other Income 30.38 30.38
Profit / (Loss) Before Depreciation and Tax (31.08) 7.65
Depreciation 2.04 2.37
Profit / (Loss) before Tax (33.12) 5.28
Less : Provision for Tax _ _
Profit / (Loss) after Tax (33.12) 5.28
Add : Profit brought forward 196.70 191.42
Profit Carried to Balance Sheet 163.58 196.70
Considering financial performance, Your Directors have decided not to
declare any Divi- dend for this year.
The Company has invested its surplus funds in power generating company
and has gener- ated income in the form of dividend to the tune of
Rs.30.38 Lacs. The Company has parked the funds in the Power Generating
Company and planning to enter into power sector.
No Fixed Deposits were accepted by the Company during the year.
Shri. V.R.Subramanian, Director and Shri. V. Narayanan Director of the
Company, who retire by rotation and being eligible, offer themselves
M/s. V. SENTHILNATHAN & Co., Chartered Accountants, Chennai, the
Statutory Auditors of the Company, retires at the conclusion of the
forth coming Annual General Meeting and is eligible for re-appointment.
As the Company yet to begin its activities, the required particulars
under Sections 217 (1) & (2) of the Companies Act, 1956 read with the
Companies (Disclosure of Particu- lars in the Report of the Directors)
Rules, 1988 is not applicable.
PARTICULARS OF EMPLOYEES
The Statement as required under 217(2A) of the Companies Act is not
applicable to the Company.
DIRECTORS'' RESPONSIBILITY STATEMENT
Your Directors confirm:
a) That in preparation of the Annual Accounts, the applicable
Accounting Standards have been followed along with proper explanation
relating to material departures ;
b) That the Directors had selected such Accounting Policies and applied
them consis- tently 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 ended on
31st March, 2012.
c) That the Directors had taken proper and sufficient care for
maintenance of adequate accounting records for the year ended 31st
March, 2012 in accordance with the Provi- sions of the Companies Act,
1956 for safeguarding the assets of the Company and for the prevention
and detection of Fraud and other irregularities.
d) That the Directors had prepared the Annual Accounts on an ongoing
Your Directors would like to place on record their gratitude to the
Members for their continued support and confidence. Your Directors also
would like to thank the Staff Mem- bers at various levels for their
committed Services for the Company.
For and on behalf of the Board
DATE: 4th September 2012
Chairman & Managing Director