To, The Members of Indo-Pacific Software & Entertainment Limited,
The Directors have pleasure in presenting before the shareholders the
thirty-first Annual Report on the working of the Company together with
audited Accounts of the company for the year ended on 31st March, 2013.
The Financial results of the Company as disclosed in the accounts are
self explanatory doesn''t call for further comments.
The Business Performance of the Company as disclosed in the accounts is
self explanatory doesn''t call for further comments.
Transfer to Reserve:
The Company has Profit of Rs. 1,03,78,210.61 during the year and
transferred the same to the General Reserve Account to strengthen the
business of the Company.
Your company is expected to maintain a reasonable rate of growth and
your directors positively view the prospectus for the current year with
The Directors of your Company have not recommended payment of any
Dividend for the financial year 2012-13 in order to strengthen the
Reserves of the Company for the ongoing as well as for the forthcoming
Projects of the Company.
The Company has a wholly owned subsidiary company with the name of M/s
N Kumar Projects & Infrastructure Private Limited.
The Company has not accepted any deposits within the meaning of Section
58A of the Companies Act, 1956 and the rules framed their under.
Your company continued to receive unstinted support and co-operation
from its retailers, stockers and suppliers goods / services and all
other association with it. Your board wishes to record its appreciation
and your company would continue to build and maintain strong link with
its business partners.
In accordance with the provisions of the Companies Act, 1956 and
Article of Associations of the Company Ms. Archana D. Wani and Mr.
Ashok Bansidhar Purohit retires by rotation and being eligible, offers
themselves for reappointment. Except this there is no change among the
M/s Sanjay S. Agrawal & Co., Chartered Accountants, Nagpur, statutory
auditors of the company, hold office until the conclusion of the
ensuring annual general meeting. The auditors have offered their
eligibility for re-appointment at the ensuing annual general meeting
and the re-appointment, if made will be in Section 224 (1B) of the
Companies Act, 1956. The notes presented in the auditor report are self
explanatory and do not require any comments.
The notes on accounts referred to in the Auditors Report are self
explanatory and therefore need no further comments.
Director''s Responsibility Statement:
Pursuant to the requirements under section 217(2AA) of the Companies
Act, 1956 with respect to Director''s Responsibility Statement, it is
hereby confirmed that:
i). That in the preparation of the annual accounts for the financial
year ended 31st March, 2013 the applicable accounting standards has
been followed along with proper explanations relating to material
ii). The Directors have selected such accounting policies and applied
them consistently and made judgments and estimates that were reasonable
and prudent so as to give true and fair view of the state of affairs of
the company at the end of the financial year and of the profit and loss
of the company for the year under review.
iii). 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 for safeguarding assets of the
Company and for preventing and detecting fraud and other
iv). The Company has prepared the annual accounts for the financial
year ended on 31st March, 2013 on a going concern basis.
v). That there had been no adverse remarks by the Auditors in their
Audit report that need any explanation in terms of section 217(3) of
the Companies Act, 1956.
Particulars of employees:
There was no employee who is drawing remuneration of Rs. 2 Lacs per
months as required under Section 217(2A) of the Companies Act, 1956
read with Companies Rules, 1975 as amended. So particular of employees
Disclosure with Respect to Conservation of Energy, Technology
Absorption and Foreign Exchange Earning and Outgo:
Pursuant to section 217(1)(e) of the Companies Act, 1956 read with the
Companies (Disclosure of Particulars in the Report of Board of
Directors) Rules, 1988 the following information is provided:
Conservation of Energy:
The Company does not use any technology or energy for its existing
business except for the electricity used in offices and at the sites of
the company which is not a significant part of the construction cost,
hence it is not practicable to furnish the information in this
Foreign Exchange Earnings & Outgo:
1) Foreign exchange earnings: NIL
2) Foreign exchange outgo : NIL
Pollution Control Measures:
The Company''s business does not involve any emission of pollutants and
therefore, no special pollution control measures are called for.
However, special attention is paid to maintain healthy and hygienic
condition to make the services customer friendly.
The state of affairs of the company have been undertaken in such a
manner in the year under report which in the opinion of the Board is
not harmful either to the business of the company or to the business of
the group companies.
The Directors would like to place on record their sincere appreciation
for the continued co-operation, guidance, support and assistance
provided during the year under report by various departments of Central
and State Governments, companies banker, customers, suppliers of the
company. The Directors also wish to thank all the employees for their
support and co- operation in the growth of the company.
Date: 30/05/2013 FOR AND ON BEHALF OF THE BOARD
Place: Nagpur Sd/-
(NandKumar K. Harchandani)