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Inani Securities
BSE: 531672|ISIN: INE224C01014|SECTOR: Finance - Investments
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Directors Report Year End : Mar '13    Mar 12
To The Members,
 
 The Directors have pleasure in presenting the 19th Annual Report of
 your company on the business operations together with the audited
 financial accounts for the financial year ended 31st March, 2013.
 
 FINANCIAL RESULTS:
 
 A snapshot of the Financial performance of the Company for the year
 2012-13 is as under:
 
                                     Year ended     Year ended
 Particulars                         31st March 
                                     2013 31st      March 2012
                                    (Rs.in Lakhs)  (Rs.in Lakhs)
 
 Total Revenue                           198.93         231.73
 
 Profit before Interest, Depreciation&Tax 70.00          89.57
 
 Profit before Depreciation & Tax         57.40          47.58
 
 Profit Before Tax & Execptional Items    10.77          35.24
 
 Prior year Adjustment
 & Execptional Items                      15.74          (3.26)
 
 Net Profit Before taxation               26.51          31.98 
 
 Less : Provision for Tax
 
 - Current tax                             5.05           8.44
 
 - Deferred Tax                            2.39           1.48 
 
 Net Profit                               19.07          22.06 
 
 Add : Balance brought forward from the
 last year                               850.69         828.63
 
 Earlier Year Tax/Refund                   4.23              0
 
 Profit available for approriation       873.99         850.69 
 
 Proposed Dividend
 
 Balance carried to Balance Sheet        873.99         850.69
 
 REVIEW OF PERFORMANCE:
 
 During the year under review the financial year 2012-13 was marked by a
 fairly tough financial environment due to slowdown in some of the major
 economies of the world. Reflecting the subdued scenario, the Net profit
 after tax of your company stood reduced to Rs. 19.07Lacs.
 
 DIVIDEND:
 
 Keeping in view the future expansion plans and capital requirements of
 the company, the Board of Directors believe it is necessary to conserve
 cash flow and thereby do not recommend any dividend for the year
 2012-13.
 
 DIRECTORS:
 
 In accordance with the provisions of section 255 of the Companies
 act,1956 and articles 113 of the Articles of Association of the Company
 Mr. Suresh Jankiram Kabra Director retires by rotation at the ensuing
 Annual General meeting and being eligible, offer himselves for the re-
 appointment.
 
 Shri Ramesh Athasniya retires by rotation at the ensuing Annual General
 Meeting and has given a notice to the Company expressing his
 unwillingness to be re-appointed. The Board received notice proposing
 to appoint Shri Dhanraj Soni in place of Shri Ramesh Athasniya.
 
 STATUTORY AUDITORS:
 
 M/s. G.D. Upadhyay & Co., Chartered Accountants Auditors of the Company
 hold office till conclusion of the ensuing Annual General Meeting of
 the company and are eligible for the re- appointment. The Company is in
 receipt of confirmation from M/s. G.D. Upadhyay & Co, that in the event
 of their re-appointment as statutory auditors of the Company, such
 re-appointment will be within the prescribed limits specified U/s 224(1
 B) of the companies Act, 1956. The Board of Directors proposes to
 re-appoint them for another term and will hold office till the
 conclusion of the next Annual General Meeting.  LISTING ARRANGEMENT:
 
 The Equity shares of the Company are listed on Bombay Stock Exchange
 Ltd., (B S E). The listing fees for the year 2013-14 has been paid to
 the Exchange.
 
 PUBLIC DEPOSITS:
 
 Your company has neither invited nor accepted any deposits from public
 within the meaning of Section 58A of the Companies Act, 1956 during the
 year under review.
 
 STATUTORY INFORMATION:
 
 A. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE
 
 EARNINGS AND OUTGO:
 
 a) CONSERVATION OF ENERGY
 
 The company engaged in providing financial services and as such its
 operations do not account for substantial energy consumption. However,
 the company is taking all possible measures to conserve energy. Several
 environment friendly measures have been adopted by the company such as:
 
 - Installation of TFT monitors that save power
 
 - Automatic power shutdown of idle monitors.
 
 - Creating environmental awareness by way of distributing information
 in electronic form.
 
 - Minimising air-conditioning usage
 
 - Shutting off all the lights when not in use
 
 - Education and awareness programmes for employees.
 
 b) TECHNOLOGY ABSORPTION
 
 The management understands the importance of technology in the business
 segments it operates and lays utmost emphasis on system development and
 the use of best technology available in the industry. The management
 keeps itself abreast with technological advancements in the industry
 and ensures continued and sustained efforts towards absorption of
 technology, adaptation as well as development of the same to meet
 business needs and objectives.
 
 c) FOREIGN EXCHANGE EARNINGS/OUTGO
 
 There are no FOREX transactions during the year under review.
 
 PARTICULARS OF EMPLOYEES :
 
 No employee of your company is in receipt of remuneration of Rs. 60
 lakhs P.A. or part thereof pursuant to Section 217(2A) of the Companies
 Act, 1956 and the companies (Particulars of Employees), Rules 1975 as
 amended.
 
 CORPORATE GOVERNANCE :
 
 The company is committed to uphold the highest standards of Corporate
 Governance and adhere to the requirements set out by Securities and
 Exchange Board of India and stock Exchanges, As part of the Company''s
 efforts towards better corporate practice and transparency, a separate
 report on Corporate Governance compliances is included as a part of the
 Annual Report.
 
 A certificate from M/s. G.D. Upadhyay & Co., Chartered Accountants the
 Statutory Auditors, regarding compliance with the conditions of
 Corporate Governance as stipulated under clause 49 of the Listing
 Agreement is attached to this report on Corporate Governance.
 
 DIRECTORS'' RESPONSIBILITY STATEMENT:
 
 Pursuance to provisions of Section 217(2AA) of the Companies Act, 1956
 the Directors of your confirm that:
 
 i.  in the preparation of the annual accounts for the financial year
 ended 31st March, 2013, the applicable accounting standards have been
 followed along with proper explanation relating to material departures,
 if any, therefrom;
 
 ii.  appropriate Accounting policies have been selected and applied
 them consistently. The Judgments and estimates made 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 ended 31st March, 2013 and
 of the profit of company for the said period.
 
 iii proper and sufficient care has been taken for the maintenance of
 accounting records in accordance with the provisions of this Companies
 Act, 1956 for safeguarding the assets of the Company and for preventing
 and detecting fraud and other irregularities: and
 
 iv.  the annual Accounts have been prepared on a going concern basis.
 
 ACKNOWLEDGEMENTS:
 
 Your Directors would like to express their sincere appreciation for the
 co-operation and assistance received from the Bankers, Regulatory
 bodies, stake holders and other business associates who have extended
 their valuable sustained support and encouragement during the year
 under review.
 
 Your Directors take this opportunity to recognize and place on record
 their gratitude and appreciation for the commitment displayed by all
 employees at all levels of the company. We look forward to their
 continued support in the future.
 
                                     By order of the Board
 
                                     Sd/- 
 
 Place : Hyderabad                   SHRIGOPALINANI
 
 Date : 30.05.2013                   Chairman
Source : Dion Global Solutions Limited
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