The Directors hereby present the Thirtieth Annual Report of the
Company together with the Audited Accounts for the year ended 31st
Year ended Year ended
(Amt in Rs.) (Amt in Rs.)
Profit before Interest & Depreciation 707''525 (3''351''965)
Less: Interest - -
Profit before Depreciation 707''525 (3''351''965)
Provision for Tax 121''904 191''324
Reversal of Interest or Income Tax - 108''04''448
Reversal of Interest on Income Tax - 145''87''409
Net Profit/ Loss after Tax 829''429 11''235''444
Profit/(Loss) carried to Balance Sheet 829''429 11''235''444
The Board do not recommend any dividend for the year under review'' in
view of losses incurred by the company.
In accordance with the provision of the Companies Act'' 1956 and
Articles of Association of the Company'' MR. SUSHU. DIPCHAND CHOKSCY
and MR. KAMLESHKUMAR DUBEY retire by rotation and are being eligible
offer themselves for re-appointment.
Pursuant tr- Clause 49 of the Listing Agreement following have been
made a part of the Annual Report:
- Management discussion and Analysis
- Corporate Governance Report
- Auditors Certificate regarding compliance of conditions of the
- Declaration on compliance with code of Conduct.
DISCLOSURE UNDER THE STOCK EXCHANGE LISTING AGREEMENT:
In accordance with the amended Listing Agreement with respective Stock
Exchanges'' it is hereby confirmed U e Company''s Shares are listed at
the Bombay Stock Exchange Limited and Ahmedabad Stock Exchange
The Company has not accepted any deposits from the public within the
meaning of Section 58A of the Companies Act'' 1956'' read with the
Companies (Acceptance of Deposits) Rules'' 1975.
M/s. Amar Bafna & Associates Chartered Accountants'' Mumbai'' Statutory
Auditors of the Company retire at the ensuing Annual General Meeting
and being eligible offer themselves for re-appointment.
The comments and remarks from Auditors are self explanatory'' and do not
call for any further clarification. SECRETARIAL COMPLIANCE REPORT:
Secretarial Compliance Report pursuant to Section 383A of the Companies
Act'' 1956 as issued by Company Secretary in Whole time in Practice is
PARTICULARS OF EMPLOYEES:
The Company has no employees of the specified categories under Section
217 (2A) of the Companies Act'' 1956'' read with the Companies
(Particulars of Employees) Rules'' 1975'' as amended upto date.
PARTICULARS REGARDING CONSERVATION OF ENERGY'' TECHNOLOGY ABSORPTION''
FOREIGN EXCHANGE EARNING AND OUTGO:
Particulars of conservation of energy'' Technology Absorption and
Foreign Exchange earnings and out go pursuant to section 217(1) (e) of
the Companies Act. 1956'' read with the rules there under is given in
the Annexure - A to this report.
DIRECTORS RESPONSIBILITY STATEMENTS (Pursuant to Section 217 (2AA) of
Companies Act'' 1956):
(i) that in the preparation of annual accounts'' the applicable
accounting standards had been followed along with proper explanation
relating to material departures;
(ii) that the directors had 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 at the end of the financial year and of the
profit or loss of the company for that period.
(iii) that the directors had taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of this Act for safeguarding the assets of the company and
for preventing and delecting fraud and other irregularities#v) that the
directors had prepared the annual accounts on a going concern basis.
APPRECIATION: The Board of Directors wishes to place on record its
sincere appreciation for due co-operation received from the Company''s
Bankers and others for their continued support and co-operation.
By order of the Board of Directors
For Kumar Wire Cloth Manufactiwing
PLACE: MUMBAI ITEN CHOKSEY
DATE: 30/05/2012 CHAIRMAN
Source : Dion Global Solutions Limited
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