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Alka Securities Directors Report, Alka Secur Reports by Directors

Alka Securities

BSE: 532166|ISIN: INE921C01031|SECTOR: Finance - General
Oct 14, 16:00
Alka Securities is not listed on NSE
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Directors Report Year End : Mar '14    Mar 13
To The Shareholders
 The Directors submit their Report and the Audited Accounts of the
 Company for the year ended 31st March 2014.
 Financial Results
 Description                                 2013 - 2014   2012 - 2013
                                            (in Rs. Lakhs) (in Rs.Lakhs 
 Profit before Depreciation and Interest      (1300.25)        39.98
 Provision for Depreciation                       1.80         10.83
 Interest                                        50.45         62.10
 (Loss) before Tax                            (1352.50)       (34.95)
 (Loss) after TiX                             (1352.50)       (34.95)
 Balance brought forward from previous year     199.60        199.60
 (Loss) carried to Balance Sheet              (1152.90)       234.55
 Operation Review
 Due to ongoing legal issues and income tax case spending against the
 Company, the Income Tax Department has frozen all accounts, and
 therefore the company is not able to carry any business in current the
 financial year.
 The Board of Directors does not recommend any dividend on Equity shares
 for the year under consideration.
 Fixed Deposit
 Company has not accepted any fixed deposit from the public pursuant of
 section 58-A of the company act 1956.
 Company has no subsidiaries as on date.
 Company has not carried out any business operation during the current
 financial year.
 Finance is the major hurdle for your company. To overcome this, company
 is planning to raise fund through static investor.
 Outlook forthe Company
 Looking the current financial and on going legal issue company is not
 very hopeful do achieve any major gain but company he hope full to
 shout out legal problem and hopefully start a fresh business in 2014-15
 The Equity Shares of the Company are listed on the Bombay Stock
 Exchange (BSE). The Company has not paid the Annual Listing Fees to the
 Bombay Stock Exchange for the year 2014 - 2015.
 Mr. Mahendra Pandey would retire by rotation at the ensuing Annual
 General Meeting and is eligible for re-appointment.
 Directors'' Responsibility Statement
 As specifically required under the Companies Act, 1956, your Directors
 i. That in the preparation of the annual accounts, the applicable
 accounting standards have been followed.
 ii. that such accounting policies have been selected which have been
 applied consistently and judgments and estimates made are reasonable
 and prudent so as to give a true and fair view of the state of affairs
 of the Company in the Balance Sheet as at the end of the financial year
 ended 31st March, 2014 and of the Profit and Loss Account for the said
 financial year, i.e. April 1, 2013 to March 31, 2014.
 iii. That proper and sufficient care 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 fraud and other irregularities have been taken.  That the
 Annual Accounts have been prepared on a going concern basis.
 M/s PSV Jain & Associates Chartered Accountant Mumbai retired at the
 forthcoming annual general meeting and is eligible for reappointment.
 Your directors propose the appointment of PSV Jain & Associate
 Chartered Accountant to hold the office until the conclusion of the
 next Annual General meeting.
 Conversation of Energy Technology Absorption, Foreign Exchange Earnings
 & Out Go
 Company takes adequate steps to avoid wasteful consumption and
 conservation of energy. The company does not require any technology for
 its existing business. There were no earning and outgo in foreign
 Corporate Governance
 A Report on Corporate Governance in compliance with the Bombay Stock
 Exchange Listing Agreement is attached and forms part of this Report.
 Particulars of Employees
 The Company does not have any employee whose particulars are required
 to be given pursuant to the provisions of section 217 (2A) of the
 Companies Act, 1956 read with the Companies (Particulars of Employees)
 Rules, 1975. There is no employee whose details to be reported under
 this section.
 Employee Stock Option Scheme
 During the last years company has introduce ESOP Scheme for the
 allotting warrants to the employees. Under the scheme company has
 reserved 25lac equity shares to be issued to the employees under the
 scheme. During the year under consideration no option were granted.
 The Directors wish to place on record their deep appreciation for the
 services rendered by the officers, staff and workers at all level, and
 their dedication and loyalty.
                                        FOR AND ON BEHALF OF THE BOARD
 Place: Mumbai
                                                  Mahendra Pandey
 Date: 30th August 2014
Source : Dion Global Solutions Limited
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