To the Members,
The Directors hereby present the 26th Annual Report together with the
Audited Accounts for the year ended 31st March, 2012.
1. Financial Results:
The performance of the Company for the financial year ended March 31,
2012 is summarized below:
(Amount in Lacs)
FOR THE FOR THE
YEAR ENDED YEAR ENDED
31ST MARCH 2012 31ST MARCH 2011
Profit/(Loss) for the year 9.62 13.95
Less: Tax Provision for the year - -
Less: Deferred Tax Provision for the year - -
Profit/(Loss) after Taxation 9.62 13.95
Less: Transfer from Reserve - -
Sales Return - -
Add: Balance (Dr.) brought forward (509.17) (523.12)
Less: Deferred Tax - -
Balance carried forward to
Balance Sheet (499.55) (509.17)
During the year 2011-12 your company posted profit after tax (PAT) of
Rs.9.62 lakh and looking at increasing this number in coming year.
However due to inadequate profit the Board of Director express their
inability to declared dividend for the current year.
3. Current year and Future Prospect
During the year 2011-12 company''s total income was 11.25 crores. The
total expenditure 11.15 crores. After necessary
appropriations/adjustment there was a profit of Rs.9.62 Lakhs. During
the year company has earned operational profit before depreciation of
In the coming years education sector will witness growth like never
before as India is evolving and growing from a third world country to
compete with the global leaders. One of the key contributors of this
growth will be skilled and trained manpower that will help fuel this
growth. Your company has expanded its business operations to various
segments like individual specialized training, govern- ment certified
education, Degree based courses and participating in skill development
project. With this your company is in a position to take advantage of
the fastest growing sector as well as it hedges its risk by the
distribution of operations in various segments.
In accordance with the provisions of the Companies Act, 1956 and the
Articles & Association of the company, Mr. G.K.Gupta and Mr. Kamaljit
Singh retires from office by rotation at the ensuing Annual General
Meeting and, being eligible, offer themselves for re-appointment.
The resolution for confirmation of re-appointment of Mr. Sidharth
Lakhotia as Whole Time Director & CEO of the company is also proposed
for your approval.
The Auditors M/s Budhia & Co. Chartered Accountant will retire at the
forthcoming Annual General Meeting and being eligible offer them selves
for reappointment. The company has received a certifi- cate from them
to the effect that their reappointment, if made, will be within the
limits prescribed under Section 224(1) of the Companies Act, 1956.
6. Auditor Observations:
The observations of the Auditors are duly dealt in Notes of Accounts
attached to the Balance Sheet and are self explanatory in nature.
7. Subsidiary Company:
The Audited Annual Accounts for the Financial Year ending 31st March,
2012 along with the Auditors'' and Directors'' Report thereon of
eLCC.Info.com Ltd., a Subsidiary of your Company are annexed to this
report as required under Section 212 of the Companies Act, 1956.
8. Fixed Deposits:
The Company has not accepted or invited any deposits from the Public
and as such no amount of principal or interest was outstanding during
the year 2011-12.
9. Particulars of Employees:
None of the employees of the Company is covered under Section 217(2A)
of the Companies Act, 1956 read with the Companies (Particulars of
employees) Rules, 1975.
10. Particulars pursuant to Companies (Disclosure of Particulars in
the Report of Board of Directors) Rules, 1988:
The Company does not have any manufacturing activity and hence the
provision of Section 217(1)(e) of the Companies Act, 1956 read with the
Companies (Disclosure of Particulars in the Report of the Board of
Directors) Rules, 1988 does not apply to the Company.
11. Directors'' Responsibility Statement:
The Directors confirm pursuant to the provisions of Section 217 (2AA)
of the Companies Act, 1956,
* that in the preparation of the annual accounts, the applicable
accounting standards have been followed along with proper explanation
relating to material departures;
* that the Directors have 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 31st March 2012 and of
the profit or loss of the Company for that period;
* that the Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of companies Act, 1956 for safeguarding the assets of the
Company and for preventing and detecting fraud and other
* that the Directors have prepared the annual accounts on a going
12. Corporate Governance:
In terms of Listing Agreements, a report on Corporate Governance along
with the Auditors'' Report on its compliance is annexed, forming part of
the Annual Report.
13. Listing Status
The company''s shares are listed at Bombay Stock Exchange Limited and
National Stock Exchange of India Limited. Listing fee has been paid
till March 31st 2006 to Bombay Stock Exchange Limited and up to March
31st 2012 to National Stock Exchange of India Limited.
Your Directors would like to express their grateful appreciation for
the assistance and co-operation received from the members, bankers,
business associates, various Govt. Authorities in all the en- deavors
of the Company during the year under review. Your Directors also place
on record their deep sense of appreciation for the committed services
of the Executives, Staffs and Workers of the Company.
FOR AND ON BEHALF OF THE BOARD OF DIRECTORS
Place: Kolkata SIDHARTH LAKHOTIA KIRTI LAKHOTIA
Date: 27th August, 2012 DIRECTOR & C.E.O MANAGING DIRECTOR