To, The Members of Rudraksh Cap-Tech Limited Mumbai.
The Directors have the pleasure in presenting the 20th Annual Report of
the company together with the Audited Statement of Accounts for the
year ended on 31st March-2012.
1. FINANCIAL RESULTS (Rs. In Lacs)
Particulars Current Year (Rs) Previous Year (Rs)
Commission and Other Income 10,59,000.00 15,76,428.00
Operational Profit 1,70,315.00 5,32,148.27
Add: Depreciation 00.00 00.00
Profit / (Loss) Before Taxation 1,70,315.00 5,32.148.27
Less: Provision for Taxation 52,627.00 1,25,001.89
Profit / (Loss) After Taxation 1,17,688.00 4,07,146.38
Balance carried to Balance Sheet 1,17,688.00 4,07,146.38
During the year Company did not carry out any business activities or
trading activities except other activities.
During the year under review the Company has not accepted any deposits
to which the provisions of section 58A of the Companies Act, 1956 read
with Acceptance of Deposits Rules, 1975 as amended are applicable.
The Directors did not recommend any dividend for the year on Equity
Shares of the Company.
M/S Bharat Parikh & Associates, Chartered Accountant, Vadodara Auditors
of the Company retire at the conclusion of this Annual General Meeting
and being eligible offer themselves for reappointment.
6. AUDITOR''S REPORT
The notes to the accountants referred to in the Auditor''s Report are
self-explanatory and therefore does not call any further comment.
Mr. Mahesh R. Patel, Director of the Company, retires by rotation at
the forthcoming Annual General Meeting and being eligible offers
himself for reappointment. The Board recommends their re-appointment.
8. PARTICULARS OF EMPLOYEES
There is no employee having remuneration with the provisions of section
217(2A) of the companies Act 1956 read with the Companies (Particulars
of employee) Rules, 1975 as amended.
9. THE CONSERVATION OF ENERGY TECHNOLOGY ABSOPTION FOREIGN EXCHANGE
The above details as required to be given U/s 217 (2e) of the Companies
Act, 1956 is not given as the same is not applicable to the company.
The company has not earned any Foreign Exchange or spent any Foreign
10. performance and future plans
As you will observe from the financial results, the performance has
been of great concern. Our dependence on economic factors are
unavoidable and the future trends of your Company shall depend the
11. RETIFICATION OF ALL TRANSACTIONS:
Your Board of Directors has committed certain Acts, deeds or
transactions in the process of the public issue in pursuant of the
provisions U/S 61 & other applicable provisions of the Companies Act
1956, the company in General Meeting takes note of the overall
situation prevailing after the Company''s Prospectus Dt. 7th March
12. DIRECTOR''S RESPONSIBILITY STATEMENT UNDER SECTION 217(2AA) OF
THE COMPANIES ACT, 1956.
The directors confirm that-
I) In the preparation of the annual accounts, the applicable accounting
standards have been followed by the company,
II) Such accounting policies have not been selected consistently and
judgment and estimates made are not reasonable and prudent so we are
unable to give a true and fair view of the state of affairs of the
company at 31st March,2012and of the profit of the Company for the year
ended on that;
III) Proper and sufficient care has been taken for 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;
IV) Annual accounts have been prepared on a going- concern basis.
13. MANAGEMENT DISCUSSION AND ANALYSIS:
Management discussion and analysis Report, pursuant to Clause 49 of the
Stock Exchange Listing agreement, forms part of this Report and the
same is annexed hereto.
14. REPORT ON CORPORATE GOVERNANCE:
A separate Report on Corporate Governance along with Certificate from
Auditors on its compliance as annexed hereto.
Your Directors also thank the Banker of the Company for their
assistance and cooperation. Your Director also wishes to place on
record their appreciation for the support of shareholders& devoted
services rendered by the executives and employees at all levels.
Date : 29/05/2012 For And on Behalf of the Company
Place : Vadodara
(Hitesh Choksi) (Sanjay Choksi)