SENSEX NIFTY
Entegra Directors Report, Entegra Reports by Directors
YOU ARE HERE > MONEYCONTROL > MARKETS > POWER - GENERATION & DISTRIBUTION > DIRECTORS REPORT - Entegra
Entegra
BSE: 532287|NSE: ENTEGRA|ISIN: INE826A01028|SECTOR: Power - Generation & Distribution
SET ALERT
|
ADD TO PORTFOLIO
|
WATCHLIST
LIVE
BSE
May 22, 17:00
3.79
-0.16 (-4.05%)
VOLUME 223
LIVE
NSE
May 22, 17:00
3.80
-0.2 (-5%)
VOLUME 2,300
Download Annual Report PDF Format 2014 | 2013 | 2012 | 2010
Directors Report Year End : Mar '14    « Mar 13
To the Members,
 
 The Directors are pleased to present the Nineteenth Annual Report and
 the Audited Accounts of the Company for the year ended on 31st March,
 2014 along with the Management Discussion and Analysis Report.
 
 MANAGEMENT DISCUSSION AND ANALYSIS REPORT
 
 Management Discussion and Analysis Report for the year under review, as
 stipulated under Clause 49 of the Listing Agreement with the Stock
 Exchanges in India, is presented in a separate section forming part of
 the Annual Report.
 
 FINANCIAL HIGHLIGHTS
 
 The operating results of the Company for the period under review are as
 follows:
 
                                                        (Amount in Rs.)
 Particulars                        The year ended on The year ended on
                                         31/03/2014       31/03/2013
 
 Profit/Loss before depreciation, 
 tax & prior period                  (51,55,56,950)     ( 63,12,60,756)
 
 Less : Depreciation                      12,98,810           15,38,177
 
 Profit/Loss before tax              (51,68,55,760)      (63,27,98,933)
 
 Less : provision for tax                         -                   -
 
 Less : Fringe benefit tax                        -                   -
 
 Less : Deferred Tax                              -                   -
 
 Profit/Loss after tax                (51,68,55,760)     (63,27,98,933)
 
 Less: Prior Period / Pre Op                      -            1,44,754
 
 Adjusted Profit / Loss               (51,68,55,760)     (63,29,43,687)
 
 Add:P&L Brought forward             (178,66,83,827)    (115,37,40,139)
 
 Balance carried to B/s              (230,35,39,587)    (178,66,83,826)
 
 
 
 DIVIDEND
 
 Directors do not recommend any dividend.
 
 THE YEAR IN RETROSPECT
 
 There has been no business activity during the year except follow-up
 work that was done for restart of construction activities of the 10 X
 40 MW Maheshwar Hydro Power Project.
 
 Due to differences in opinion between the Company and the Lenders on
 the strategy to be followed for raising the balance funds required for
 commissioning of the Hydro Projects intervention of the Government at
 the Centre has been sought.
 
 BUSINESS OUTLOOK & PLANS
 
 The Company is making efforts to ensure that during the current year
 the Maheshwar Project becomes operational with ready 3 turbines.
 
 SUBSIDIARY COMPANIES AND CONSOLIDATED FINANCIAL STATEMENTS
 
 The Company has 3 Subsidiaries as on March 31, 2014 namely
 
 a.  Shree Maheshwar Hydel Power Corporation Limited (SMHPCL)
 
 b.  Ennertech Biofuels Limited (EBL)
 
 c.  Rajasthan Solar Power Company Private Limited (RSPCPL).
 
 There has been no material change in the nature of the business of the
 subsidiaries. A statement containing brief financial details of the
 subsidiaries is included in the Annual Report.
 
 As required under the Listing Agreements entered into with the Stock
 Exchanges, a consolidated financial statement of the Company and its
 subsidiaries is attached. The consolidated financial statements have
 been prepared in accordance with the relevant accounting standards as
 prescribed under Section 211(3C) of the Act. These financial statements
 disclose the assets, liabilities, income, expenses and other details of
 the Company and its subsidiaries.
 
 In accordance with the General Circular issued by the Ministry of
 Corporate Affairs, Government of India, the Balance Sheet, Statement of
 Profit and Loss and other documents of the subsidiary companies are not
 being attached with the Balance Sheet of the Company. However the
 financial information of the subsidiary companies disclosed in the
 Annual Report in compliance with the said circular. The Company will
 provide a copy of separate annual accounts in respect of each of its
 subsidiary to any shareholder of the Company who asks for it and the
 said annual accounts will also be kept open for inspection at the
 Registered Office of the Company.
 
 DEMATERIALISATION OF SHARES
 
 The trading in equity shares of the company is permitted only in
 dematerialised form. A total of 96.53% shares are held in
 dematerialised form with NSDL and CDSL as on 31st March, 2014.
 
 DIRECTORS
 
 In terms of the Articles of Association of the Company, Mr. Mukul S.
 Kasliwal, Director, retires by rotation at the ensuing Annual General
 Meeting and, being eligible, offer himself for re-appointment.
 
 According to New Companies Act, 2013 the Company is appointing Mr.
 Prabhakar Nene, Mr. Ajit Kapadia, Mr. Hiten Khatau and Mr.  Jagdish
 Capoor, Independent Directors for the period of five years. The Company
 has received declarations from all the Independent Directors of the
 Company confirming that they meet with the criteria of independence as
 prescribed both under sub-section (6) of Section 149 of the Companies
 Act, 2013 and under Clause 49 of the Listing Agreement with the Stock
 Exchanges.
 
 Mr. Pinaki Mukherjee has been appointed as Manager w.e.f. 21st August,
 2014.
 
 AUDIT COMMITTEE:-
 
 In accordance with Section 177 of the Companies Act, 2013 and Clause 49
 of the Listing Agreement, the Company has constituted the Audit
 committee which currently consists of Mr. Jagdish Capoor – (Chairman of
 Audit Committee), Mr. P. L. Nene, Mr. Ajit Kapadia and Mr. Alok Sinha
 (Members).
 
 AUDITOR
 
 M/s, Shyam Malpani & Associates, Chartered Accountants, Statutory
 Auditor of the Company hold office till the conclusion of the ensuing
 Annual General Meeting and are eligible for re-appointment.
 
 The Company has received letter from M/s Shyam Malpani & Associates to
 the effect that their re-appointment, if made, would be within the
 prescribed limits under Section 141(3)(g) of the Companies Act, 2013
 and that they are not disqualified for re-appointment.
 
 The Notes on Financial Statements referred to in the Auditors Report
 are self – explanatory and do not call for any comments.
 
 FIXED DEPOSITS
 
 The Company has not accepted any Deposits and such, no amount on
 account of principal or interest on public deposits was outstanding as
 on the date of balance sheet.
 
 CORPORATE GOVERNANCE
 
 The Company is committed to maintain the highest standards of corporate
 governance and adhere to the corporate governance requirements set out
 by SEBI. The Company has also implemented several best corporate
 governance practices.
 
 The Report on corporate governance as stipulated under Clause 49 of the
 Listing Agreement forms part of the Annual Report. The requisite
 certificate from the Auditors of the Company confirming compliance with
 the conditions of corporate governance as stipulated under the
 aforesaid Clause 49, is attached to the Report on Corporate Governance.
 
 PARTICULARS OF EMPLOYEES
 
 Information as per Section 217(2A) of the Companies Act, 1956 read with
 Companies (Particulars of Employees) Rules, 1975, as amended, the
 Company has no employees who were in receipt of the remuneration of
 Rs.60,00,000/- or more per annum during the year ended 31st March 2014
 or Rs.5,00,000/- or more per month during any part of the said year.
 
 DIRECTORS'' RESPONSIBILITY STATEMENT
 
 In terms of Section 134(5) of the Companies Act, 2013, with respect to
 Directors'' Responsibility Statement, it is hereby confirmed that:
 
 i) In the preparation of the Annual Accounts for the Financial Year
 ended 31st March 2014, the applicable accounting standards read with
 requirement set out under Schedule VI to the Companies Act, 1956, have
 been followed and there are no material departures from the same.
 
 ii) The Directors have selected such accounting policies and applied
 them consistently and made judgements and estimates that are reasonable
 and prudent so as to give true and fair view of the State of Affairs of
 the Company at the end of the financial year 31st March 2014 and of the
 profit/loss of the Company for that period.
 
 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 / detecting fraud and other irregularities
 
 iv) The Directors have prepared the annual accounts of the Company on a
 ''going concern'' basis; and
 
 v) The Directors had laid down internal financial controls to be
 followed by the Company and that such internal financial controls are
 adequate and were operating effectively
 
 vi) The Directors had devised proper systems to ensure compliance with
 the provisions of all applicable laws and that such systems were
 adequate and operating effectively.
 
 RECONCILIATION OF SHARE CAPITAL AUDIT REPORT
 
 The Company has appointed M/s Roy Jacob & Co., Practicing Company
 Secretary, to conduct Reconciliation of Share Capital Audit of the
 Company. The Audit is carried out every quarter and the report thereon
 is placed before the Board of Directors & thereafter is submitted to
 Stock Exchange.
 
 CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION
 
 Being a Renewable Energy Company, your Company is committed to energy
 conservation at every stage of its operations. To keep pace with the
 technology revolution, your Company is taking necessary steps in
 utilising modern and advanced technology.
 
 ACKNOWLEDGMENT
 
 The Board of Directors would like to thank the Customers, Vendors,
 Financial Institutions, Bankers, Government Authorities, Advisors and
 Members for their continued support. The Board of Directors also
 appreciates the contribution made by the employees at all levels for
 their hard work, dedication, co-operation and support for the growth of
 the Company.
 
 The Board of Directors would also like to thank all stakeholders for
 the continued confidence and trust by them with the Company.
 
                           On behalf of the Board of Directors,
 
                                         Sd/- 
                                     Mukul Kasliwal 
                                       Chairman 
 Place: Mumbai 
 Date : 22nd November 2014
Source : Dion Global Solutions Limited
Quick Links for entegra
Explore Moneycontrol
Stocks     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | Others
Mutual Funds     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.