To, The Members,
The Directors of your company have pleasure in presenting to you the
34th Annual Report together with the Audited Statements of Accounts for
the year ended on 31st March, 2012.
Current Year Previous Year
Particulars 2011-2012 2010-2011
(Amount in Rs.) (Amount in Rs.)
Profit before Depreciation and Taxes 334347 295712
Less : Depreciation 133426 67049
Profit for the year 200921 228663
Less : Tax Provision 38285 42393
Less : Income Tax Adjustment of
earlier yeas (87) 26362
Profit after Tax 162723 159908
Add : Balance brought forward 1532708 1372800
Balance carried to Balance Sheet 1695431 1532708
In view of the meager amount of profit during the year and to
strengthen the financial position of the company, your directors have
not recommended any dividend for the year.
PARTICULARS OF EMPLOYEES
There was no employee during the year, covered by section 217 (2A) of
the Companies Act, 1956, read with the Companies (Particulars of
Employees) Rules, 1975.
AUDITORS AND AUDIT REPORT
M/s Chaturvedi Sohan & Co., Chartered Accountants, Mumbai will cease to
be Auditors of the Company at the conclusion of the ensuing Annual
General Meeting and being eligible offer themselves for re-appointment.
Your Company has complied with all the provisions of Companies Act,
1956; a certificate to this effect has been obtained from Practicing
Company Secretary, Mumbai, a copy of which is enclosed.
PARICULARS OF ENERGY CONSERVATION. TECHNOLOGY ABSORBTION AND FOREIGN
The Company is not covered under any of the industry specified in
Schedule under rule 2(A) of the Companies (Disclosure of particulars in
the Report of Board of Directors) Rules, 1988 as such the Company is
not required to submit particulars of Energy Conservation as required
under Rule 2(A) and there is no activity which should be disclosed as
per rule 2(B) and 2(C) about Technology Absorption and Foreign outgo.
Your Directors confirm:
a) That in the preparation of the Annual Accounts, the applicable
accounting standards have been followed and that no material departures
have been made from the same.
b) That they 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 affairs of the company at
the end of the financial year and of the Profit or Loss of the Company
for the period;
c) That they 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 the assets of the Company and for
preventing and detecting fraud and other irregularities;
d) That they have prepared the Annual Accounts on a going concern
The Company is making all efforts for complying the provisions relating
to corporate Governance pursuant to clause 49 of the Listing Agreement
with Stock Exchange.
FOR AND ON BEHALF OF THE BOARD
Place: Mumbai (Nina Ranka)
Date: 11th June, 2012 DIRECTOR