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Titan Securities
BSE: 530045|ISIN: INE090D01017|SECTOR: Finance - Leasing & Hire Purchase
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Download Annual Report PDF Format 2013 | 2011 | 2010
Directors Report Year End : Mar '13    Mar 12
To, The Members,
 
 The Directors have pleasure in presenting their 21st Annual Report and
 Audited Accounts of the Company forthe year ended 31st March 2013.
 
 FINANCIAL RESULTS:
 
                                          (Amt. in Lacs of )
                                       CURRENT YEAR   PREVIOUS YEAR
                                         2012-2013       2011-2012
 
 Income from Operations                      20.15          228.86
 
 Other Income                                84.55          113.58
 
 Total Income                               104.70          342.44
 
 Total Expenses                              89.92          319.11
 
 Exceptional Items                            7.10            0.00
 
 Profit/Loss before tax                       7.68           23.33
 
 Tax Expenses/Provisions                      2.90            9.76
 
 Profit after Tax                             4.78           13.57
 
 Balance carried to Balance Sheet              4.78          13.57
 
 
 PERFORMANCE AND REVIEW
 
 During the year under review the company could not do much business,
 which has resulted in a Gross Income of Rs 104.70 lacs as compared to
 turnover for previous year of Rs.  342.44 Lacs.
 
 FUTURE PLANS
 
 The Capital Market continues to be volatile during the last financial
 year.
 
 FIXED DEPOSIT
 
 During the period of under review, the company has not accepted any
 fixed deposits.
 
 DIRECTORS
 
 Mr. Suresh Chand Singla shall retire in this Annual General Meeting and
 being eligible offers himself for re-appointment.
 
 Mr. Vikas Sharma shall retire in this Annual General Meeting and being
 eligible offers himself for re-appointment.
 
 DIRECTORS RESPONSIBILITY STATEMENT
 
 Pursuant to the requirement under Section 21 7 (2AA) of the Companies
 Act, 1956 with respect-to Director''s Responsibility Statement, it is
 hereby confirmed:
 
 (1) that in the preparation of the annual accounts for the financial
 year ended 31s''March 2013 the applicable accounting standards had been
 followed along with proper explanations relating to material
 departures;
 
 (2) 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;
 
 (3) that the directors had taken proper and sufficient care for the
 maintenance of adequate accounting records in accordance with the
 provision of the Companies Act, 1956 for safeguarding the assets of the
 Company and preventing and detecting fraud and other irregularities;
 
 (4) That the directors had prepared the accounts for the financial year
 ended 31sl March, 2013 on a going concern basis.
 
 AUDIT COMMITTEE
 
 I. The Audit Committee held its meeting during the previous financial
 year on 30th April 2012, 30th July 2012, 24th August 2012, 30,h
 October, 2012 and 28s''January, 2013.
 
 II. At the invitation of the Company, representatives from various
 divisions of the company, internal auditors, statutory auditors and
 company secretary who is acting as secretary to the Audit Committee
 also attended the Audit Committee meeting to answer and clarify queries
 raised at the Committee meetings.
 
 III. The role and terms of reference of the Audit Committee covers the
 matters specified for Audit Committees under clause 49 of Listing
 Agreement as well as in Sec. 292Aofthe Companies Act, 1956.
 
 AUDITORS
 
 M/s Deepika Setia & Co., Chartered Accountants shall retire at the
 ensuring Annual General Meeting & being eligible offer themselves for
 reappointment. They have also furnished a certificate of eligibility
 for re-appointment u/s 224(1) of the Companies Act, 1 956. The Board
 recommends their re-appointment as auditors of your company for the i
 period from the conclusion of this Annual General Meeting to the
 conclusion of next Annual General Meeting on such remuneration as may
 be decided by the Board.
 
 AUDITORS'' REMARK
 
 The observation made by the Auditors with reference to notes on the
 accounts for the year under report are self explanatory and need no
 further comments from the Directors.
 
 PARTICULARS REFERED U/S 217(1) (e) OF THE COMPANIES ACT, 1956
 
 The Clause pertaining to conservation of energy and technology
 absorption is not applicable to company.
 
 PARTICULARS REFERED U/S 217 (2A) OF THE COMPANIES ACT, 1956
 
 Particulars are NIL as there are no employees drawing remuneration of
 more than Rs. 5,00,000/- or more per month and/or Rs.60,00,000/- or
 more per annum.
 
 FOREIGN EXCHANGE EARNINGS AND OUTGO
 
 There are no foreign exchange earnings or outgo during the year under
 review.
 
 INFORMATION AS PER CLAUSE 43 OF THE LISTING AGREEMENT
 
 (a) The company securities have not been suspended from trading.
 
 (b) The securities of the company are listed at the Bombay Stock
 Exchange Limited and will continue to be listed there. Annual Listing
 Fee has been paid to the Bombay Stock Exchange Limited.
 
 The name and address of stock exchange where shares of company will
 continue to be listed is as under:
 
 Bombay Stock Exchange Limited Phiroze Jeejeebhoy Tower, Dalai Street,
 Mumbai
 
 ACKNOWLEDGEMENT
 
 Your Directors would like to express their grateful appreciation for
 the assistance and continued co-operation extended by the Banker,
 Government Agencies, Shareholders, customers and wish to place on
 record their deep sense of commitment shown by the employees at all
 levels and acknowledge their contribution for the success of the
 operation for the company.
 
                      For and on the behalf of the Board of Directors
 
                      ManjuSingla Naresh Kumar Singla
 
                      Managing Director Director
 
 Date: 03.09.2013 
 
 Place: Delhi
Source : Dion Global Solutions Limited
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