To, The Members,
The Directors have the pleasure of presenting this 25th Annual Report
along with the Audited Financial Statements and the Auditor''s Report
thereon for the Financial Year ended 31st March, 2012.
During the year under review, your Company has recorded a gross total
income of Rs. 9,97,000/- form commercial operations and recorded a net
loss of Rs.5,65 090/-.
REVOCATION OF SUSPENSION IN TRADING OF EQUITY SHARES:
The Board of Directors of your Company pleasure to inform you that the
BSE Limited has revoked the suspension in trading of equity shares of
the Company with effect from June 12, 2012.
Your Directors do not recommend any dividend for the financial year due
to accumulated losses.
During the year Mr. Santosh Kumar Sahu retires by rotation at the
ensuing Annual General Meeting and being eligible offers himself for
re-appointment. The Board recommends for his reappointment.
DIRECTORS'' RESPONSIBILITY STATEMENT:
In pursuance of Section 217(2AA) of the Companies Amendment Act, 2000
your directors confirm
(i) That the directors in the preparation of the annual accounts the
applicable accounting standards have been followed along with proper
explanations relating to material departures.
(ii) That the directors had selected such accounting policies and
applied them consistently and made judgments and estimates that are
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.
(iii) That the directors had taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of this Act for safe guarding the assets of the Company and
for preventing and detecting fraud and other irregularities.
(iv) That the directors had prepared the annual accounts on the going
During the Financial year, company has not accepted any deposits
falling with the preview of Section 58A of the Companies Act, 1956 read
with Companies (Acceptance of Deposits) Rules, 1975.
M/s. P.S. Nagaraju & Co., Chartered Accountants, Hyderabad the
Statutory Auditors of the Company who retires at the conclusion of the
ensuing Annual General Meeting and being eligible, expressed their
willingness for re-appointment. The board recommends their
Du TA Ch the year under review, Board of Directors of the Company in
its meeting held on February 09, 2012 has appointed M/s Venture Capital
and Corporate Investments Private Limited, having its registered office
at 12-10-167, Bharat Nagar, Hyderabad -500 018 as Registrar and Share
Transfer Agent in place of M/s Sathguru Management Consultants Private
No employs LA was On Emcee OY to remuneration exceeding the
limits as specified under the provisions of Section 217 (2A) of the
Companies Act, 1956, read with the Companies (Particulars of Employees)
CONSERVATION OF ENERGY, RESEARCH AND DEVELOPMENT, TECHNOLOGY ABSORPTION
AND FOREIGN EXCHANGE EARNINGS/OUTGO:
We firmly believe that technology is the genesis of innovative business
practices, which in turn enable the organization to carry out business
effectively and efficiently. We intend to make investments in
innovative techniques for this regard.
Energy: The business in which the Company is operating does not require
large quantities of energy However, wherever possible energy saving
efforts are made.
Foreign Exchange Outgo : Nil
A report on Corporate Governance, in accordance with Clause 49 of the
Listing Agreement with the Stock Exchanges is set out separately for
the information of the shareholders.
Your Directors take this opportunity to record their appreciation for
the continuous support and co- operation extended by the customers and
bankers. The Directors also acknowledge the confidence reposed by the
investors and shareholders in the Company.
For and on behalf of the Board
August 14, 2012 SD/-
Santosh Kumar Sahu