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Kumar Wire Cloth Manufacturing Company Directors Report, Kumar Wire Reports by Directors
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Kumar Wire Cloth Manufacturing Company
BSE: 513703|ISIN: INE840A01011|SECTOR: Steel - Medium / Small
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Kumar Wire Cloth Manufacturing Company is not traded in the last 30 days
Kumar Wire Cloth Manufacturing Company is not listed on NSE
Directors Report Year End : Mar '12    Mar 10
Dear Shareholders''
 
 The Directors hereby present the Thirtieth Annual Report of the
 Company together with the Audited Accounts for the year ended 31st
 March 2012.
 
 FINANCIAL HIGHLIGHT
 
                                            Year ended    Year ended 
                                            31-03-2012    31-03-2011
                                           (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
 
 DIVIDEND:
 
 The Board do not recommend any dividend for the year under review'' in
 view of losses incurred by the company.
 
 DIRECTORS
 
 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.
 
 CORPORATE GOVERNANCE:
 
 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
 Corporate Governance
 
 - 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
 
 Lim-itid. .
 
 FIXED DEPOSITS:
 
 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.
 
 AUDITORS:
 
 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.
 
 AUDITOR''S REPORT
 
 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
 enclosed herewith
 
 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 
                                    Co. Ltd.
 
 PLACE: MUMBAI                      ITEN CHOKSEY
 
 DATE: 30/05/2012                   CHAIRMAN
Source : Dion Global Solutions Limited
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