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Gujarat Inject (Kerala) Directors Report, Guj Inject Kera Reports by Directors
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Gujarat Inject (Kerala)
BSE: 524238|ISIN: INE659F01014|SECTOR: Pharmaceuticals
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Gujarat Inject (Kerala) is not traded in the last 30 days
Gujarat Inject (Kerala) is not listed on NSE
Directors Report Year End : Mar '11    Jun 05
To The Members of Gujarat Inject (Kerala) Limited
 
 The Directors have pleasure in presenting the 20th Annual Report of
 the company and Audited Statement of Accounts for the year ended 31st
 March,2011.
 
 Financial results:
 
                                    Current year     Previous year
                                   (Apr''10-Mar''11)  (Apr''09-Mar''10)
 
 Profit/Loss before 
 Depreciation and Tax                   -                 -   
 
 Less : Depreciation                    -                 -
 
 Less : Provision for Income 
 tax for earlier year                   -               11190
 
 (Profit /Loss) : for the year     (-) 157817       137207416
 
 Add (Less) : Profit/Loss 
 brought forward from
 previous year                   (-)112925947    (-)250122173
 
 Balance carried to 
 Balance Sheet                   (-)113083764    (-)112925947
 
 
 dividend :
 
 Since the company has not made profits during the year, your directors
 regret for not recommending Dividend for the financial year ended 31st
 March, 2011.
 
 Review of workings and Operations:
 
 The company did not have the production activities for the year under
 review since IFCI has sold the Assets of company under the provisions
 of SARFACIE Act. Hence, company could not carry out any activities
 without assets.
 
 The DRT matter as lodged by IFCI against the company is under
 adjudication. Final order confirming settlement of the matter is
 awaited.  Promoters are looking for prospective buyers for Sale of
 Company as per SEBI guidelines.
 
 Fixed Deposits :
 
 In terms of Section 58A of the Companies Act, 1956 and the Companies
 (Acceptance of Deposits) Rules 1975, the Company has not accepted or
 renewed any Deposit during the year under review.
 
 Particulars of EMPLOYEES:
 
 As regards the details of remuneration paid to employees as required
 under Section 217 (2A) of the Companies Act, 1956 read with the
 Companies (Particulars of Employees) Rules 1988 as amended, no employee
 in the Company drawing remuneration above the specified limit and hence
 not provided.
 
 Conservation of energy, technology absorption and foreign exchange
 earnings and OUTGO:
 
 AS COMPANY DID NOT CARRY OUT COMMERCIAL ACTIVITIES FOR THE YEAR UNDER
 REVIEW AS WELL AS PREVIOUS YEAR , INFORMATION IN RESPECT OF SECTION
 217(1)(e) OF COMPANIES ACT IS NOT APPLICABLE.
 
 directors:
 
 During the year under review, Mrs. lla Mankodi retires by rotation and
 being eligible, offers herself for reappointment.
 
 Dematerialisation of shares :-
 
 As on 31-03-2011 16,45,150 equity shares have been dematerialized, out
 of which 1392585 shares have been dematerialized with NSDL and balance
 252565 with CDSL.
 
 These details are provided based on last data available. No further
 transaction has taken place thereafter.
 
 AUDIT COMMITTEE:
 
 During the year the audit committee meetings were conducted as per the
 provisions of listing agreement with stock exchange. More details in
 respect of date of meetings etc. provided in the report of Corporate
 Governance forming part of this report.
 
 Auditors'' REPORT:
 
 The notes forming part of the accounts are self-explanatory and do not
 call for any further clarifications under section 217(3) of the
 Companies Act, 1956.
 
 NOTE nO. 09 During the year 97-98 promoters had decided to infuse funds
 by way of equity capital to tie over the financial difficulties.
 Accordingly the authorized capital has been enhanced by Rs. 2 Crores in
 the EGM. But, on sudden demise of the main Promoter Sri. Y.R.  Mankodi
 the promoters could not proceed further in the matter.
 
 Non Provision of Interest :-It is to be mentioned that with respect to
 the auditor''s note on Non provision of interest for the current book
 balances of secured lenders, the same has been explained in the notes
 to accounts. To avoid duplication, the same has not been explained
 here.
 
 auditors: M/s. Krishnamoorthy and Krishnamoorthy, Chartered
 Accountants, retiring auditors hold office upto the ensuing Annual
 General Meeting and are eligible for reappointment. They have submitted
 a certificate for their eligibility for reappointment under Section 224
 (1B) of the Companies Act, 1956.
 
 DIRECTORS'' RESPONSIBILITY STATEMENT.
 
 Pursuant to section 217(2AA) of the Companies Act, 1956,the Directors
 confirm the following in respect of the audited accounts for the period
 ended 31st March 2010.
 
 1.  That in the preparation of the annual accounts, the applicable
 accounting standards have been followed.
 
 2.  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
 affairs of the company at the end of the financial year and the
 profit/loss of the company for that period.
 
 3.  That the Directors have taken proper and sufficient care for the
 maintenance of adequate accounting records in accordance with the
 provisions of the Companies Act,1956 safeguarding the assets of the
 company and for preventing and detecting fraud and other
 irregularities.
 
 4.  That the Directors have prepared the annual accounts on a going
 concern basis.
 
 Corporate governance
 
 In pursuance of Clause 49 of Listing Agreement with the stock
 exchanges, the corporate governance report and management discussion
 and analysis report are given elsewhere and forming part of this
 report.
 
 Acknowledgements :
 
 Your Directors gratefully acknowledge the support and service rendered
 to the Company by KSIDC, Bankers, Financial Institutions, Government
 Authorities, Shareholders and Associates.
 
 Your Directors also gratefully acknowledge the spirit and dedication of
 the employees, who have in their untiring efforts to improve and
 strengthen the working of the Company.
 
 Date :1st Sept 2011.    By the order of the Board of Directors of
 
 Place :                 Gujarat Inject (Kerala) Limited
 
 Pampampallam
 
 Pudussery East
 
 Palakkad (Kerala)           Ila Y Mankodi     Dwipa Y Mankodi
 
                               (Director)       (Director)
Source : Dion Global Solutions Limited
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