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Download Annual Report PDF Format 2013
Directors Report Year End : Mar '13    Mar 12
To The Members,
 
 The Directors are pleased to present the 2nd Annual Report and Audited
 Statement of Accounts of the Company for the year ended 31st March,
 2013.
 
 1.  FINANCIAL RESULTS
 
 Particulars                         Year Ended       Period Ended
                                     31st March, 2013 31st March, 2012
                                    (Rs. in Lacs)      (Rs. in Lacs)
                                    (12 months)      (18 months)
 
 Gross Sales & Income 
 from Operations                      10047.47         262.59
 
 Profit/Loss before Interest
  and Depreciation                       14.29         (95.55) 
 
 Less :
 
 - Interest                             104.76          45.89
 
 - Depreciation                           0.08           0.06 
 
 Profit/Loss before tax                 (90.55)       (141.50) 
 
 Less: Tax Expenses                     (21.26)        (40.66)
 
 Profit/Loss after tax                  (69.29)       (100.84)
 
 Add: Balance brought forward
 from previous Year                    (100.84) 
 
 Total amount available 
 for appropriation                     (170.13)       (100.84)
 
 Balance carried to Balance Sheet      (170.13)       (100.84)
 
 2.  REVIEW OF BUSINESS & OPERATIONS
 
 During the year, Company achieved Gross Turnover of Rs. 10,047.47 lacs
 against the Turnover of Rs. 262.59 lacs achieved during the previous
 year. Since the Company has yet to achieve its optimum scale of
 operations, it incurred the net loss of Rs. 69.29 lacs during the year.
 It is hope that Company would achieve greater heights in coming years.
 
 SUBSIDIARY COMPANY
 
 Company has one wholly owned subsidiary namely Hexa Securities and
 Finance Company Limited (HSFCL). HSFCL is Non Banking Financial Company
 registered with the RBI.
 
 3.  DIVIDEND
 
 In view of the loss, no dividend has been recommended.
 
 4.  MANAGEMENT DISCUSSION AND ANALYSIS AND CORPORATE GOVERNANCE
 
 A separate report on Management Discussion and Analysis is enclosed as
 a part of the Annual Report.
 
 Another report provides information / status on the Corporate
 Governance.
 
 5.  DIRECTORS'' RESPONSIBILITY STATEMENT
 
 Pursuant to the requirement under section 217(2AA) of the Companies
 Act, 1956 with respect to Directors'' Responsibility Statement, it is
 hereby confirmed by the Board of Directors: -
 
 a.  that in the preparation of the annual accounts for the year ended
 31st March, 2013, the applicable accounting standards had been followed
 along with proper explanation relating to material departures;
 
 b.  that the Directors had selected such accounting policies and
 applied them consistently and made judgments and estimates that were
 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
 profit or loss of the Company for the period under review ;
 
 c.  that the Directors had taken proper and sufficient care for the
 maintenanceof adequate accounting records in accordance with the
 provisions ofthe Companies Act, 1956 for safeguarding the assets of the
 Company and for preventing and detecting fraud and other
 irregularities;
 
 d.  that the Directors had prepared the accounts for the financial year
 ended 31st March, 2013 on a going concern'' basis.
 
 6.  DIRECTORS
 
 Shri Prithvi Raj Jindal retires by rotation and, being eligible, offer
 himself for re-appointment.
 
 7.  AUDITORS & THEIR REPORT
 
 M/s N.C.Aggarwal & Co.,Chartered Accountants, Auditors of the Company
 retire at the ensuing Annual General Meeting, and, being eligible,
 offer themselves for re-appointment.
 
 Auditors'' remarks in their report read with the notes to accounts
 referred to by them are self-explanatory.
 
 8.  PUBLIC DEPOSITS
 
 The Company has not invited any public deposits during the year ended
 on 31st March, 2013.
 
 9.  PARTICULARS REGARDING CONSERVATION OF ENERGY, ETC.
 
 Information in accordance with the provision of Section 217(1)(e) of
 Companies Act, 1956 read with the Companies (Disclosure of Particulars
 in the Report of Board of Directors) Rules, 1988 regarding conservation
 of energy, technology absorption and foreign exchange earnings and
 outgo are given in the statement annexed hereto.
 
 10. SUBSIDIARY COMPANY
 
 The prescribed particulars relating to subsidiary is being provided in
 this Annual Report.  However, pursuant to circular No. 2/2011 dated 8th
 February, 2011 issued by the Ministry of Corporate Affairs, the Balance
 Sheet and Profit & Loss Accounts of the subsidiary are not attached
 herewith. Any member may write to the Company Secretary at Jindal
 Centre, 12, Bhikaiji Cama Place, New Delhi  110 066 to obtain the copy
 of the Annual Reports of any of the subsidiary company.
 
 11. PERSONNEL
 
 The employees relations remained cordial throughout the period. There
 is no employees whose particulars are required to be furnished under
 section 217(2A) of the Companies Act, 1956.
 
 12. ACKNOWLEDGEMENT
 
 Your Directors express their grateful appreciation to concerned
 Departments of Central / State Governments, Banker and Customers for
 their continued assistance and co-operation. The Directors also wish to
 place on record their deep sense of appreciation for the committed
 services of the employees at all levels. We are also grateful for the
 confidence and faith that you have reposed in the Company as its
 member.
 
                               For and on behalf of the Board
 
 Place: New Delhi              Prithvi Raj Jindal
 
 Date: 27th May, 2013          Chairman
Source : Dion Global Solutions Limited
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