The directors have pleasure in presenting the Twenty Second Annual
Report and the audited Financial Statements for the financial year
ended 31st March 2012.
FINANCIAL RESULTS: 2011-2012 2010-2011
(Rupees in lakhs)
Sales - -
Other income - -
Total income - -
Profit/(Loss) before Depreciation and tax (3.04) (2.82)
LESS: Depreciation - -
Net Profit/(Net Loss) 3.04) (2.82)
Profit/(Loss) aftertax (3.04) (2.82)
ADD: Surplus/(Deficit) brought forward
from previous year (498.11) (495.28)
Net Profit/(Loss) carried to Balance sheet (501.15) (498.11)
In view of the Loss your directors do not recommend any dividend for
the current year.
The Company has not invited or accepted any deposits from the public.
During the year Mr.Gopichand Idandas retires by rotation and being
eligible offers himself for reappointment.
M/s B.P. Jain & Co., Chartered Accountants, Chennai, retire at the
forthcoming Annual General Meeting and being eligible offer themselves
PARTICULARS OF EMPLOYEES:
There is no employee during the year under review whose particulars are
required to be given as per the provisions of Section 217 (2A) of the
Companies Act, 1956.
DIRECTORS'' RESPONSIBILITY STATEMENT
Your Directors Confirm
i. that in the preparation of the annual accounts, the applicable
accounting standards have been
followed; ii. that the Directors have 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 as at 31st March 2012 and of the
Loss of the company for that year;
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 have prepared the annual accounts on a going
As per the listing agreement with the Stock Exchanges, a separate
discussion on Corporate Governance is appended.
LISTING OF EQUITY SHARES
The company''s equity shares are listed on the Chennai and Mumbai Stock
Information required under Section 217(1 )(e) of the Companies Act,
1956 read with the Companies (Disclosure of particulars in the report
of the Board of Directors) Rules 1988.
1. Conservation of Energy, Technology absorption and Research and
The Company has no activity relating to conservation of energy,
technology absorption and Research & Development during the year.
2. Foreign Exchange Earnings and Outgo
During the year the Company had no earnings or outgo in foreign
Your directors wish to place on record their appreciation for the
co-operation received from the State and Central Government
organizations and also from the dedicated management team.
For and on behalf of the Board
Place : Chennai Gopichand Idandas
Date : 21.05.2012 Chairman