The Directors have pleasure in presenting the 22nd Annual Report
together with the Audited Statement of Accounts for the year ended on
31st March, 2012.
FINANCIAL RESULTS Year Ended Year Ended
GROSS INCOME 2,06,626 4,82,473
GROSS PROFIT/(LOSS) BEFORE
DEPRECIATION AND INCOME TAX (2,54,058) (3,56,097)
Less: Depreciation 21,055 30,624
Income Tax (including for
earlier years) 2,630 -
NET PROFIT/(LOSS) AFTER TAXES (2,77,743) (3,86,721)
In view of carried forward losses, your directors are unable to declare
dividend for the year under consideration. OPERATIONS
During the year your company moderately participated in Capital Market
due to shortage of funds.
COMPLIANCE WITH REGULATIONS
The Company has complied with various regulations formulated from time
to time by the authorities.
The Directors confirm
a) that in 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 judgements and estimates that are reasonable and
prudent so as to give a true and fair view of the state of the affairs
of the company at the end of the financial year and of the loss of the
company for the year;
c) that they have taken proper and sufficient care for maintenanace of
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
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION,
FOREIGNEXCHANGE EARNINGS AND OUTGOINGS
The Company is not engaged in any manufacturing activities, therefore
there is no information to submit in respect of conservation of energy
and technology absorption. The Company has no foreign exchange earning
and outgoing during the year.
Sri Vinay Kumar Agarwal retires at the ensuing Annual General Meeting
and being eligible offers himself for re- appointment. As your Company
has received notice under Section 257 of the Companies Act, 1956 from a
member proposing his candidature for the office of the Director of the
Company, he is appointed a Director of the Company from the date of
ensuing Annual General Meeting.
At the Annual General Meeting, members are requested to appoint
Auditors for the current financial year and to fix their remuneration.
PARTICULARS OF EMPLOYEES
In compliance with the provisions of section 217(2A) of the Companies
Act, 1956 read with the Companies (particulars of employees) Rules,
1975 as amended from time to time, there is no such employee in receipt
of remuneration of more than the specified limit under the said act.
The Directors wish to place on record their appreciation of the
valuable support given by our clients, Bankers & shareholders.
Place : Kolkata For and on behalf of the Board
Dated : 29th June, 2012 Sanwarmal Agarwal