The Directors have pleasure in presenting the 28th Annual Report along
with the audited Statement of Accounts for the year ended 31st March,
The performance of the Company for the financial year ended 31st March
2014 is summarized below:
(Amount in Rs.)
Particulars For the year end For the year end
Total Income 2,310,146 2,662,734
Less: Total Expenses 1,609,637 1,412,085
Net Profit Before Tax 700,509 1,250,649
Less: Tax Expenses 196,930 395,000
Net Profit for the Year 23,483,227 855,649
Add: Balance Brought forward
from Previous Year 503,579 22,627,578
Balance carried to Balance sheet 23,986,806 23,483,227
Keeping in view the need to conserve the company''s resource, your
Directors consider not declare any dividend during the year under the
Your Company has not accepted any fixed deposits from the public and is
therefore not required to furnish information in respect of outstanding
deposits under Non-Banking Financial Companies (Reserve bank)
Directions, 1966 and Companies (Acceptance of Deposits) Rules, 1975.
Pursuant to the provision of section 255 of the companies Act, 1956 Ms.
Anusuya Gupta director of the company, retires at the ensuing Annual
General Meeting and being eligible, offers herself for reappointment.
DIRECTOR''S RESPONSIBILITY STATEMENT
In Accordance with the Requirements of Section 217(2AA) of the
companies Act, 1956 your Directors wish to confirm the following:
i) That the applicable accounting standards have been followed in the
preparation of Annual Accounts.
ii) That the directors have Selected such accounting Policies and
Applied them consistently and made judgment and estimates that are
reasonable and prudent so as to give a true and fair view of the state
of affairs of the company for that period;
iii) Proper and sufficient care has been taken for the maintenance of
adequate accounting records in accordance with the provisions of the
Companies Act for safeguarding the assets of the company and for
prevention and detection of fraud and other irregularities.
iv) The annual account for the year ended March 31, 2014 have been
prepared on a going concern basis.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUT GO:
The Particulars as required U/s 217 (1) (e) of the companies Act, 1956,
read with companies (Disclosure of particulars in the Report of Board
of Directors) Rules, 1988 relating to conservation of energy,
Technology, Technology Absorption, Foreign Exchange Earning and outgo
are not Applicable to the company, as the company does not carry out
any manufacturing activity and has no dealing with foreign exchange.
PARTICULARS OF EMPLOYEES
The Particulars as required U/s 217 (2A) of the companies Act, 1956,
read with companies (particular of employees), there was no employee
drawing remuneration in excess amount prescribed under Section 217 (2A)
of the Companies Act, 1956 during the year ended 31st March 2014.
The present tenure of M/s. AVS & Co., Chartered Accountants, Mumbai
Statutory Auditor of the Company is expiring on conclusion of ensuing
Annual General Meeting. In pursuance of Section 139 (1) of Companies
Act, 2013 it is proposed to appoint M/s. AVS & Co., Chartered
Accountants, Mumbai for the further tenure of one year.
The Company has received consent by M/s. AVS & Co., Chartered
Accountants, Mumbai to act as Statutory Auditor of the Company. If
confirmed, the appointment will be made in accordance with Section
139(1) of the Companies Act, 2013 and the Rules made there under and
they satisfy the criteria stipulated under the provisions of Section
141 of the Companies Act, 2013.
The observation made in the Audit Report are self explanatory and
therefore, do not call for any further comment U/s 217 of the Companies
Act, 1956. The same have been noted for future compliance.
SECRETARIAL COMPLIANCE CERTIFICATE:
As required U/s 383 A of the Companies Act, 1956 a Secretarial
Compliance Certificate from the Practicing Company Secretary is annexed
The Board records its sincere appreciation for the continuing support
and cooperation from bank, government authorities, shareholder, clients
and staff of the Company.
For and on Behalf of the Board
For RELSON INDIA LIMITED
Place: Mumbai Director
Date: 29.05.2014 DIN : 01390983