The Directors present herewith their Annual Report and Audited
Statement of Accounts for the year ended 31st March, 2012.
(Amount in Rs)
Particulars 2011-2012 2010-2011
Profit for the year 7,898 4,583
Balance b/f from previous year (2,71,692) (2,76,275)
Balance carried to Balance Sheet (2,64,794) (2,71,692)
Your Directors do not recommend any dividend on equity shares in view
of inadequate profit earned during the year.
REVIEW OF OPERATIONS
Your Company is exploring possibilities for joint venture or strategic
partnership for business diversification. During the year under review,
the Company could not able to do much business, except some business in
IT related activities and in investment in Shares. The management is
hopeful to achieve better results in the years to come.
The company has not accepted any fixed deposits during the year under
The Company has no employee during the year under review whose
particulars are required to be furnished herein under section 217(2A)
of the Companies Act, 1956.
Conservation of energy
The Company does not use fuel, so the requirements of furnishing
particulars relating to conservation of energy do not arise.
Foreign exchange earnings and outgo
The company has neither earned nor spent any foreign exchange in the
course of its business.
Research and development
The company has not yet started a Research and Development Department.
Technology absorption, adaptation and innovation
The company has not imported any technology.
Secretarial Compliance Certificate
Secretarial Compliance Certificate dated 24th July 2012 as obtained
from Mr. Himanshu Agarwal, Company Secretary in whole time practice for
the year ended 31st March 2012 is attached herewith.
Internal control system
The Company has a sound and adequate system of internal controls to
monitor and control all the activities. The Company complies with all
internal control policies and procedures as also other regulatory
In accordance with the provisions of the Companies Act, 1956 and the
Articles of Association of the company, Mr. Mr. Ramakant Misra and Mr.
S.K. Dubey retires by rotation and offers themselves for reappointment.
Directors Responsibility Statement
Pursuant to the requirement under Section 217(2AA) of the Companies
Act, 1956 with respect to Directors Responsibility Statement, it is
(i) that the directors had selected such accounting policies and
applied them consistently and made judgments and estimates that were
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 or loss of the Company for the year under review;
(ii) that 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
(iii) that the Directors had prepared the accounts for the financial
year ended 31st March, 2011 on a going concern'' basis.
Members are requested to appoint Auditors for the current year and fix
their remuneration. M/s Rani Maheshwari & Co. retires at the
forthcoming Annual General Meeting and they have expressed their
willingness to be re- appointed.
The Directors wish to sincerely thank their Bankers, employees and all
associates for their help and co-operation.
For and on behalf of the Board
Date : 30th July, 2012