TO THE MEMBERS OF SHALIMAR PRODUCTIONS LIMITED.
The financial highlights of the Company, for the year ended are
(Rs. in Lac)
For the year ended
2012 31st March,
Total Revenue 78.01 82.46
Less: Total Expenses 93.88 81.22
Profit/ (loss) before tax (15.87) 1.24
Deferred Tax Liability/(Assets) 0.10 (0.08)
Less: Income Tax / Provision - 0.38
Profit/ (loss) After Tax (15.97) 0.93
Brought forward loss from
previous year 45.32 44.38
carried to Balance sheet 29.35 45.32
During the year under review your company has earned a gross income of
Rs. 78.01 Lacs for the financial year 2011-12, as compared to Rs. 82.46
Lacs in the previous year.
Your Company has not accepted any Deposits within the meaning of
Section 58A of Companies Act, 1956 and Rules made there under.
In accordance with the requirements of the Companies Act 1956, Shri
Abhishekh Palaparthy and Chandra Shekhar Sharma will retire by rotation
and, being eligible offered them self for re-appointment, which is
proposed in the Notice of the ensuring Annual General Meeting.
During the year Shri Rajendra Kumar Rathi was resigned from the post of
Director of the company.
M/s. Lakhpat M Trivedi & Co., Chartered Accountant, the Auditor of the
Company, will retire at the conclusion of the ensuing Annual General
Meeting and, being eligible; offer themselves for re-appointment to
hold the office till the conclusion of the next Annual General Meeting.
The company has received the letter from auditor to the effect that
their appointment would be within the limits prescribed under section
224 (IB) of the Companies Act, 1956.
DEMATERIALISATION OF SHARES
Your Company has connectivity with the National Securities Depository
Limited (NSDL) & Central Depository Services (India) Limited (CDSL) for
dematerialization of its Equity Shares. The ISIN No. INE435E01020 has
been allotted for the Company Shares. Therefore, the members and/or
investors may keep their shareholdings in the electronic mode with
their Depository Participant.
LISTING OF SHARES
The company''s shares are listed with The Bombay Stock Exchange. Your
Company has paid the respective Annual Listing fees up to date and
there are no arrears.
PARTICULARS OF EMPLOYEES
None of the employees are paid remuneration exceeding the limit laid
down under Section 217 (2A) of the Companies Act, 1956, read with the
Companies (Particulars of Employees) Rules, 1975.
DIRECTORS'' RESPONSIBILITY STATEMENT
Pursuant to the requirement under Section 217 (2AA) of the Companies
Act, 1956, with respect to Directors'' Responsibility* Statement, your
directors hereby confirm:
(i) 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;
(ii) That they have selected such accounting policies and applied them
consistently and made judgments and estimates that are reasonable and
prudent so as to given a true and fair view of the state of affairs of
the Company at the end of the financial year 31.3.2012 and of the
Profit or Loss of the Company for that period;
(iii) That to the best of their knowledge and information, 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; and
(iv) That they have prepared the annual accounts on a going concern
CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNING AND OUT GO
Information as per section 217(l)(e) read with Companies (Disclosure of
Particulars in the report of Board of Directors) Rules, 1988 are not
applicable to the Company.
There are no transaction involving any foreign exchange earning &
CORPORATE GOVERNANCE AND MANAGEMENT DISCUSSION AND ANALYSIS REPORTS
As required by the clause 49 of the Listing Agreement entered into with
the Bombay Stock Exchange, a detailed Report on the Corporate
Governance, along with the certificate of Auditor on its compliance, is
attached in this Annual Report elsewhere.
The Company is in full compliance with the requirements and disclosures
that have to be made in this regard.
The Management Discussion and Analysis Report are also appearing in
this Annual Report elsewhere and both the aforesaid Reports are
incorporated as reference herein. .
The Board of Directors of the Company adopted a Code of Conduct and
posted the same on Web site. The Directors and Senior Management
Personnel have affirmed their compliance with the said code.
The Audit Committee has been constituted by the Company pursuance to
section 292(A) of the Companies Act, 1956 and under Clause 49 of the
Your Directors take this opportunity to express their grateful
appreciation for the excellent assistance and co-operation received
from the Banks, Government Authorities, Suppliers, Customers and all
the local authorities.
Your Directors also wish to place on record their deep sense of
appreciation for the committed services by the employee of the company.
By Order of the Board
For Shalimar Productions Limited
Place : Mumbai
Date : 19.08.2012