The Directors have pleasure in presenting their 20th Annual Report and
Audited Accounts of the Company for the year ended 31st March 2012.
FINANCIAL RESULTS: (Rs. In Lacs.)
(Rs. In Lacs.)
CURRENT YEAR PREVIOUS YEAR
Income from Operations 228.86 443.30
Other Income 113.58 71.35
Total Income 342.44 514.65
Total Expenses 319.11 485.28
Exceptional Items 0.00 31.60
Profit before Tax 23.33 60.97
Tax Expense/Provisions 9.76 1.64
Profit after Tax 13.57 59.33
Balance Carried to Balance Sheet 13.57 59.33
PERFORMANCE AND REVIEW
During the year under review the company could not do much business
which has resulted in a Gross Income of Rs 342.44 Lacs during the
current year as against Gross income of Rs. 514.65 Lacs during
The Capital Market continues to be volatile during the last financial
During the period under review, the company has not accepted any fixed
Mr. Rakesh Kumar Gupta shall retire in this Annual General Meeting and
being eligible offers himself for re-appointment.
Mr. Naresh Kumar Singla shall retire in this Annual General Meeting and
being eligible offers himself for reappointment.
Mrs. Manju Singla, Managing Director is also proposed to be reappointed
as Managing Director for a period of 5 years from 1 st October, 2012 on
the remuneration as given in the resolution proposed.
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to the requirement under Section 217 (2AA) of the Companies
Act, 1956 with respect to Director''s Responsibility Statement, it is
(1) that in the preparation ofthe annual accounts for the financial
year ended 31st March 2012 the applicable accounting standards had been
followed along with proper explanations relating to material
(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 ofthe
profit or loss ofthe 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 ofthe
Company and preventing and detecting fraud and other irregularities;
(4) That the directors had prepared the accounts for the financial year
ended 31st March. 2012 on a going concern basis.
I The Audit Committee held its meeting during the previous financial
year on 30th April 2011. 30th July 2011, 3rd September 2011, 31st
October, 2011 and 30th January. 2012.
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. 292A of the Companies Act, 1956.
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, 1956. The Board
recommends their re-appointment as auditors of your company for the
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.
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
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
FOREIGN EXCHANGE EARNINGS AND OUTGO
There is no foreign exchange earning or outgo during the year under
INFORMATION AS PER CLAUSE43 OFTHE 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,
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
Manju Singla Naresh Kumar Singla
Managing Director Director
Place: New Delhi