The Directors have pleasure in presenting the Annual Report together
with the Audited Statements of Account of the Company for the year
ended 31st March, 2012.
Current year Previous year
Profit before Depreciation 8,48,136 51,45,482
Depreciation 26,91,701 26,91,701
Last year''s bal carried
forward 6,37,38,976 5,59,01,793
LOSS carried to balance sheet 6,72,78,813 6,37,38,976
In view of the loss during the year under review, your Directors regret
their inability to recommend any dividend.
The Auditors M/s. K. C. Moondra & Co., the present auditors of the
Company, have pursuant to section 224(1) of the Companies Act, 1956
furnished a certificate regarding their eligibility for re-appointment
as the Company''s auditors.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO.
Your Directors are taking necessary steps for energy conservation which
will help in reducing the cost of operations.
DIRECTORS'' RESPONSIBILITY STATEMENT
Pursuant to sub-section (2AA) of section 217 of the Companies Act,
1956, the Board of Directors of the Company hereby state and confirm
(i) in the preparation of the annual accounts, the applicable
accounting standards had been followed;
(ii) 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 of
the Company for that year;
(iii) the Directors had taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of the Companies Act, 1956 for safeguarding the assets of
the Company and for preventing and detecting fraud and other
(iv) the Directors had prepared the annual accounts on a going concern
The Company has no unpaid fixed deposits.
PARTICULARS OF EMPLOYEES
The provisions of Section 217(2A) of the Companies Act, 1956, read with
the Companies (Particulars of Employees) Rules, 1975, as amended, do
not apply to the Company for the year under review.
For and on behalf of the Board
For RAJESH SOLVEX LIMITED
Date : 30.05.2012