To, The Members TITAN TRADING AND AGENCIES LIMITED
The directors have pleasure in presenting the Thirty Second Annual
Report together with the Audited Statement of Accounts for the year
ended 31st March, 2012.
FINANCIAL RESULTS :
During the year under review, the Company has incurred loss of
Rs.86,785/- as against Previous year loss of Rs.88,346/-. In view of
loss, the directors do not recommend any dividend for the period ended
March 31, 2012.
FIXED DEPOSITS :
The company has not accepted Fixed Deposits from the Public during the
year and no deposits remain outstanding for repayment.
PARTICULARS OF EMPLOYEES:
There are no employees of the Company whose particulars are required to
be reported under Section 217(2A) of the Companies Act, 1956 and Rules
CONSERVATION OF ENERGY & TECHNOLOGICAL ABSORPTION :
Since the Company is not engaged in the manufacturing activity, the
particulars in respect of conservation of Energy and Technology
Absorption and Foreign Exchange Earnings and Outgo are not furnished.
CORPORATE GOVERNANCE :
Since the paid up capital of the Company is less than Rs.3 crores, it
is not mandatory for your company to attach report on Corporate
Governance as required under Clause 49 of the Listing Agreement. Hence
your Company has not attached report on Corporate Governance.
Statement pursuant to section 212 of the Companies Act, 1956 in respect
of the Company''s subsidiary company is appended to the balance sheet.
Shri Atul Choksey and Shri. Nishith Parekh retires by rotation and
being eligible, offer them selves for reappointment.
The Company is listed on the Stock Exchange - Mumbai and the listing
fees is paid till date.
DIRECTORS RESPONSIBILITY STATEMENT:
In accordance with the provisions of Section 217 (2AA) of the Companies
Act, 1956, your directors state that:
i. In the preparation of accounts, the applicable accounting standards
have been followed.
ii. Accounting policies selected were applied consistently. Reasonable
and prudent judgements and estimates were made so as to give a true and
fair view of the state of affairs of the corporation as at the end of
March 31, 2012 and of the Loss of the company for the year ended on
iii. Proper and sufficient care has been taken 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 frauds and other irregularities.
iv. The annual accounts of the Company have been prepared on a going
COMPLIANCE CERTIFICATE :
In accordance with sub-section (1) of Section 383A of the Companies
Act, 1956, the Secretarial Compliance Certificate from Mis. Manish Ghia
& Assocaites, Practising Company Secretary, is attached to this report.
The Company''s Auditors M/s. Ravi A. Shah & Associates, Chartered
Accountants, Mumbai, retire at the conclusion of the ensuing Annual
General Meeting of the Company and being eligible offer themselves for
ON BEHALF OF THE BOARD OF DIRECTORS
Mumbai: August 14, 2012