To The Members of GEEFCEE FINANCE LIMITED
The directors have pleasure in presenting the TWENTY- SECOND ANNUAL
REPORT together with the Audited statement of accounts for the year
ended 31st March, 2012.
(Figures in Rupees)
FINANCIAL RESULTS Current Year Previous Year
Gross Revenue 5,11,347 7,80,298
Net Profit before Income-tax 7,069 1,00,022
Less: Provision for Income-tax - -
Net Profit after Taxes 7,069 1,00,022
Net profits have declined sharply during the year. Your directors are
hopeful that the business will improve in the coming years. Your
directors are trying their best and are continuously looking for
opportunities to boost the business and profitability for the company.
Your directors do not recommend dividends for the current year.
During the year under report, the company has not accepted any deposits
from the public, and hence, there is no overdue deposit as on 31st
Your company did not issue any shares during the year under review.
There is no change in the Directorship of the Company during the Year.
PARTICULARS OF EMPLOYEES:
The Company has no employee during the year in respect of which the
statement pursuant to section 217(2A) of the Companies Act, 1956 and
the Companies (Particulars of Employees) Rules, 1975 is required to be
Auditors retire at the close of the Annual General Meeting and being
eligible, offer themselves, for re-appointment.
DISCLOSURE OF PARTICULARS UNDER SECTION 217(lHe) OF THE COMPANIES ACT,
a. Conservation of energy: Not Applicable
b. Technology absorption: Not Applicable
c. Foreign exchange earnings
and outgo : NIL
DIRECTORS'' RESPONSIBILITY STATEMENT:
As per Section 217(2AA) of the Companies Act, 1956, the Board of
a) That in preparation of annual accounts, applicable accounting
standards has been followed. There is no material departure from the
applicable accounting standards.
b) That the directors have selected such accounting policies and
applied them consistently and made judgment 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
Net Profit of the Company for the year under report.
c) That director have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of the Companies Act, 1956 for safeguarding assets of the
Company and for preventing and detecting fraud and other
d) That the Directors have prepared the accounts for the financial year
ended 31st March, 2012 on a going concern basis.
CORPORATE GOVERNANCE REPORT
Your company is committed to the tenets of good Corporate Governance
and has taken adequate steps to ensure that the requirements of
Corporate Governance as laid down in Clause 49 of the Listing Agreement
are complied with.
A separate report on Corporate Governance and a management Discussion
and Analysis Report are being published as a part of the Annual Report
of the Company.
The Auditors of the Company have certified that conditions of Corporate
Governance as stipulated under Clause 49 of the Listing Agreement are
complied by the Company and their Certificate is annexed to the Report
on Corporate Governance.
Your directors acknowledge the valuable support by the shareholders of
the Company, vendors, investors, bankers, consultants and advisors
throughout the year. Your directors place on record their appreciation
to employees for their hard work, dedication and commitment to the
By order of the Board
for Geefcee Finance Limited
Place: New Delhi G. R. Goyal
Dated: 15th May, 2012 Chairman