Moneycontrol
SENSEX NIFTY
you are here:

Anna Finance Ltd.

BSE: 530799 | NSE: | Series: NA | ISIN: INE336D01014 | SECTOR: Construction & Contracting - Real Estate

BSE Live

Jun 18, 16:00
7.96 0.00 (0.00%)
Volume
AVERAGE VOLUME
5-Day
14
10-Day
27
30-Day
110
5
  • Prev. Close

    7.96

  • Open Price

    7.96

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    7.96 (444)

NSE Live

Dec 27, 11:22
NT* 0.00 (0.00%)
Volume
No Data Available
0
  • Prev. Close

    -

  • Open Price

    -

  • Bid Price (Qty.)

    - (0)

  • Offer Price (Qty.)

    - (0)

Anna Finance is not listed on NSE

Annual Report

For Year :
2015 2014 2013 2012 2011 2010 2009 2008 2007

Director’s Report

The Company''s performance during the financial year ended March 31, 2015 as compared to the previous financial year is summarized as below: (In Rs.) Current Year ended Previous Year Ended 31/03/2015 31/03/2014 Revenue from Operations before tax, interest & 42,18,913.00 48,60,800.00 depreciation Less: Depreciation 6,09,851.00 6,68,059.00 Less: Finance Charges 84,014.00 5,70,935.00 Profit Before Tax 35,25,048.00 36,21,806.00 Provision for Tax 13,55,230.00 11,19,137.00 Profit After Tax 21,69,818.00 25,02,669.00 Add: Balance brought forward from previous year 3,14,34,081.00 2,89,31,412.00 Profit available for appropriation 3,26,99,439.00 3,14,34,081.00 Balance to be carried forward to the balance sheet 3,26,99,439.00 3,14,34,081.00 NATURE OF BUSINESS The Company is engaged in the activities of Land for Real Estate Development. On the real estate development front, the Company develops residential, commercial, retail and social infrastructure projects. There was no change in the nature of the business of the Company during the year under review. FINANCIAL PERFORMANCE During the year under review, your Company''s total revenue stood at Rs. 1,38,68,489 as at 31st March, 2015 as compared to Rs. 1,72,31,477 as at 31st March, 2014. Your directors hoping the good business performance in the coming years. TRANSFER TO RESERVES It is not proposed to transfer any amount to reserves out of the profits earned during financial year ended 2014-15. DIVIDEND The Board of Directors has not recommended any dividend on the Share Capital of the Company for the period ended 31st March 2015 considering the current cash flow position of the Company. DEPOSITS During the year under review, your Company did not accept any deposits in terms of Section 73 of the Companies Act, 2013 read with the Companies (Acceptance of Deposit) Rules, 2014. As on April 1, 2014, no amounts were outstanding which were classified as ''Deposits'' under the applicable provisions of Companies Act, 1956 and hence, the requirement for furnishing of details of deposits which are not in compliance with the Chapter V of the Companies Act, 2013 is not applicable. SHIFTING OF REGISTERED OFFICE OF THE COMPANY (DISCLOSURE OF ORDERS PASSED REGIONAL DIRECTOR, NOIDA) During the year under review the Company''s registered office has shifted in the State of Uttar Pradesh from the State of Delhi. The Shifting of Registered Office has been confirmed by Regional Director, Northern Region Bench, Noida on 25.03.2015 order no. SRN C40186165 (13)/2013/13432. DISCLOSURES UNDER SECTION 134(3)(L) OF THE COMPANIES ACT, 2013 Except as disclosed elsewhere in this report, no material changes and commitments which could affect the Company''s financial position have occurred between the end of the financial year of the Company and the date of this report. PARTICULARS OF CONTRACTS OR ARRANGEMENT WITH RELATED PARTIES All transactions of the Company with Related Parties are in the ordinary course of business and at arm''s length. Information about the transactions with Related Parties is given in the Corporate Governance Report which forms a part of this Annual Report. Form AOC - 2 pursuant to the provisions of Section 134 (3) (h) of the Companies Act, 2013, read with Rule 8 (2) of the Companies (Accounts) Rules, 2014 is given as Annexure I to this Directors'' Report. PARTICULARS OF LOANS, GUARANTEES, INVESTMENTS UNDER SECTION 186 Particulars of loans, guarantees and investments as on 31st March, 2015 are given in the Notes to the financial statement. DISCLOSURE RELATING TO EQUITY SHARES WITH DIFFERENTIAL RIGHTS The Company has not issued any equity shares with differential rights during the year under review and hence no information as per provisions of Rule 4(4) of the Companies (Share Capital and Debenture) Rules, 2014 has been furnished. DISCLOSURE RELATING TO SWEAT EQUITY SHARE The Company has not issued any sweat equity shares during the year under review and hence no information as per provisions of Rule 8(13) of the Companies (Share Capital and Debenture) Rules, 2014 has been furnished. DISCLOSURE RELATING TO EMPLOYEE STOCK OPTION SCHEME AND EMPLOYEE STOCK PURCHASE SCHEME The Company has not issued any employee stock option scheme and employee stock purchase scheme and hence no information as provisions of Rule 12(9) of the Companies (Share Capital and Debenture) Rules, 2014 and SEBI (Employee Share Based Employee Benefits) Regulations, 2014, has been furnished. DISCLOSURES IN RESPECT OF VOTING RIGHTS NOT DIRECTLY EXERCISED BY EMPLOYEES There are no shares held by trustees for the benefit of employees therefore, no disclosure under Rule 16(4) of the Companies (Share Capital and Debentures) Rules, 2014 has been furnished. MATTERS RELATED TO DIRECTORS AND KEY MANAGERIAL PERSONNEL During the year the board of directors of the Company has appointed Ms. Kanchan Agarwal as Company Secretary and appointment of Ms. Kanchan Agarwal was formalized as the Key Managerial Personnel of the Company to comply with the provisions of Section 203 of the Companies Act, 2013. During the year under review, Board of Directors appointed of Mrs. Kusum Singhal as Women Director (Category: Additional Independent Director) w.e.f. 30.03.2015. In accordance with the Articles of Association of your Company and pursuant to provision of Companies Act, 2013, Mr. Ashok Kumar Mittal, Non Executive Director, Chairman retires from office by rotation, and being eligible, offer themselves for re-appointment at the ensuing Annual General Meeting of the Company. The brief resume of Mr. Ashok Kumar Mittal, as required interalia in terms of Clause 49 of the Listing Agreement with the stock exchanges, are provided elsewhere in this Annual Report. Mr. Ramesh Chand Agarwal, Non Executive, Independent Director has relinquished the post of Non Executive, Independent Director from the Board and continues as an Non Executive Director of the Company. The Board of Directors has appointed Mr. Rhythm Garg as an additional independent director w.e.f 10.04.2015. Section 149 and other applicable provisions of the Companies Act, 2013, require the Company to have at least one-third of the total number of Directors as Independent Directors. In the opinion of the Board, Mrs. Kusum Singhal and Mr. Rhythm Garg are Independent Directors in terms of the Listing Agreement, meet the criteria of independence in terms of section 149 (6) of the Act, are being considered for appointment as Independent Directors of the Company under sections 149,150 and 152 read with Schedule IV of the Act. The Company has received declarations from all these Directors of the Company confirming that they meet with the criteria of independence as prescribed both under section 149 (6) and Schedule IV of the Companies Act, 2013 and clause 49 of the Listing Agreement with the Stock Exchanges. Accordingly resolutions will be placed at the ensuing Annual General Meeting (AGM) for their appointment as Independent Directors for a period of five consecutive years from the date of ensuing AGM and not liable to retire by rotation. Mr. Anil Kumar Agarwal, Whole Time Director has been re-appointed by the Board of Directors as Whole Time w.e.f 30.05.2015 for a period of five year and his appointment was formalized as the Key Managerial Personnel of the Company to comply with the provisions of Section 203 of the Companies Act, 2013. DECLARATIONS BY INDEPENDENT DIRECTORS Pursuant to the provisions of sub-section (7) of Section 149 of the Companies Act, 2013, the Company has received individual declarations from all the Independent Directors confirming that they fulfill the criteria of independence as specified in Section 149(6) of the Companies Act, 2013. DISCLOSURE UNDER SECTION 134 (3)(B) Number of Board Meetings The Board of Directors met 13 times during the financial year ended March 31, 2015 in accordance with the provisions of the Companies Act, 2013 and rules made thereunder. Directors of the Company actively participated in the meetings and contributed valuable inputs on the matters brought before the Board of Directors from time to time. Number of Committees Meeting The Audit Committee met 5 times during the financial year ended March 31, 2015. The Stakeholders Relationship Committee met 4 times during the financial ended March 31, 2015. The nomination and remuneration committee met 1 time during the financial year ended March 31, 2015. Members of the Committees discussed the matter placed and contributed valuable inputs on the matters brought before. Additionally, during the financial year ended March 31, 2015 the Independent Directors held a separate meeting in compliance with the requirements of Schedule IV of the Companies Act, 2013 and Clause 49(II)(B)(6) of the Listing Agreement. (Non Compliance) DIRECTOR''S RESPONSIBILITY STATEMENT In terms of Section 134(5) of the Companies Act, 2013, in relation to the audited financial statements of the Company for the year ended March 31, 2015, the Board of Directors hereby confirms that: 1. In the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures; 2. The Directors had selected such accounting policies have been selected and applied consistently and the Directors 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 as on March 31, 2015 and of the profits of the Company for the year ended on that date; 3. The Directors had taken proper and sufficient care was taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; 4. The Directors has prepared annual accounts of the Company have been prepared on a going concern basis; 5. The Directors had laid down internal financial controls have been laid down to be followed by the Company and that such internal financial controls are adequate and were operating effectively; 6. The Directors had devised proper systems have been devised to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively. NOMINATION AND REMUNERATION COMMITTEE The Company has constituted a Nomination and Remuneration Committee and formulated the criteria for determining the qualification, positive attributes and independence of a Director (the Criteria). The Nomination and Remuneration Committee has recommended to the Board a policy relating to the remuneration for Directors, Key Managerial Personnel and other employees, as required under Section 178 (1) of the Companies Act, 2013. Kindly refer section on Corporate Governance, under the head, ''Nomination and Remuneration, Committee'' for matters relating to constitution, meetings, functions of the Committee and the remuneration policy formulated by this Committee. ANNUAL EVALUATION OF DIRECTORS, COMMITTEE AND BOARD The Criteria, inter alia, includes: a person to be appointed on the Board of the Company should possess in addition to the fundamental attributes of character and integrity, appropriate qualifications, skills, experience and knowledge in one or more fields of engineering, banking, management, finance, marketing and legal, a proven track record, etc. AUDIT COMMITTEE An Audit Committee is in existence in accordance with the provisions of Section 177 of the Companies Act, 2013. Kindly refer to the section on Corporate Governance, under the head, ''Audit Committee'' for matters relating to constitution, meetings and functions of the Committee. CORPORATE SOCIAL RESPONSIBILITY COMMITTEE As per the provisions of Section 135 of the Companies Act, 2013, constitution of Corporate Social Responsibility (CSR) Committee and matters relating to it is not applicable to Company. Hence there is no information regarding it. OTHER BOARD COMMITTEES For details of other board committees viz. Stakeholders Relationship Committee, Nomination and Remuneration Committee, kindly refer to the section on Corporate Governance. VIGIL MECHANISM FOR THE DIRECTORS AND EMPLOYEES The Company has established a vigil mechanism, through a Whistle Blower Policy, where Directors and employees can voice their genuine concerns or grievances about any unethical or unacceptable business practice. A whistle-blowing mechanism not only helps the Company in detection of fraud, but is also used as a corporate governance tool leading to prevention and deterrence of misconduct. It provides direct access to the employees of the Company to approach the Compliance Officer or the Chairman of the Audit Committee, where necessary. The Company ensures that genuine Whistle Blowers are accorded complete protection from any kind of unfair treatment or victimization. The Whistle Blower Policy is disclosed on the website of the Company at www.annainfra.com. RISK MANAGEMENT POLICY The Board of Directors of the Company has formulated a Risk Management Policy which aims at enhancing shareholders'' value and providing an optimum risk reward thereof. The risk management approach is based on a clear understanding of the variety of risks that the organization faces, disciplined risk monitoring and measurement and continuous risk assessment and mitigation measures. INTERNAL FINANCIAL CONTROLS The Company has in place adequate internal financial controls related to financial statement. During the year, such controls were tested and no reportable material weaknesses were observed by Internal Auditors of the Company for inefficiency or inadequacy of such controls. Some of the controls are outlined below: The Company has adopted accounting policies, which are in line with the Accounting Standards and other applicable provisions of the Companies Act, 2013; Changes in polices, if any, are approved by the Audit Committee in consultation with the Auditors; In preparing the financial statement, judgment and estimates have been made based on sound policies. The basis of such judgments and estimates are approved by the Auditors and the Audit Committee; PARTICULARS OF EMPLOYEES AND REMUNERATION Your Directors appreciate the significant contribution made by the employees to the operations of your Company during the period. The information required on particulars of employees as per Section 197(12) of the Companies Act, 2013 and Rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, is given in a separate Annexure II to this Directors'' Report. As per the provisions contained in the proviso to Section 136(1) of the Companies Act, 2013, the aforesaid particulars are not being sent as a part of this Annual Report. Any Member interested in obtaining a copy of the same may write to the Company Secretary at the registered office of the Company. OBLIGATION OF COMPANY UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013 In order to prevent sexual harassment of women at work place a new act The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 has been notified on 9th December, 2013. Under the said Act every company is required to set up an Internal Complaints Committee to look into complaints relating to sexual harassment at work place of any women employee. Company has adopted a policy for prevention of Sexual Harassment of Women at workplace and has set up Committee for implementation of said policy. During the year Company has not received any complaint of harassment. EXTRACT OF ANNUAL RETURN Pursuant to the provisions of Section 134(3)(a) of the Companies Act, 2013, Extract of the Annual Return for the financial year ended March 31, 2015 made under the provisions of Section 92(3) of the Act is attached as Annexure III which forms part of this Report. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO The particulars as required under the provisions of Section 134(3) (m) of the Companies Act, 2013 read with Rule 8 of the Companies (Accounts) Rules, 2014 in respect of conservation of energy, Foreign exchange earnings and outgo and technology absorption have not been furnished considering the nature of activities undertaken by the Company during the year under review. CORPORATE GOVERNANCE The report on Corporate Governance and the certificate from the Statutory Auditors regarding compliance with the conditions of Corporate Governance have been furnished in the Annual Report and form a part of the Annual Report. MANAGEMENT AND DISCUSSION AND ANALYSIS REPORT The Management Discussion and Analysis report has been separately furnished in the Annual Report and forms a part of the Annual Report. AUDITORS AND THEIR REPORTS The matters related to Auditors and their Reports are as under: OBSERVATIONS OF STATUTORY AUDITORS ON ACCOUNTS FOR THE YEAR ENDED MARCH 31, 2015 The auditor''s report does not contain any qualification, reservation or adverse remark or Disclaimer. STATUTORY AUDITORS APPOINTMENT Pursuant to the provisions of Section 139 of the Companies Act, 2013 and the Companies (Audit and Auditors) Rules, 2014, M/s. Mehra Sanjay & Co., Chartered Accountants, the Statutory Auditors of the Company, hold office upto the conclusion of the Twenty Fourth (24th) Annual General Meeting. However, their appointment as Statutory Auditors of the Company is subject to ratification by the Members at every Annual General Meeting. The Company has received a certificate from the said Auditors that they are eligible to hold office as the Auditors of the Company and are not disqualified for being so appointed. Necessary resolution for ratification of appointment of the said Auditors is included in the Notice of Annual General Meeting for seeking approval of members. SECRETARIAL AUDIT REPORT FOR THE YEAR ENDED MARCH 31, 2015 As required under provisions of Section 204 of the Companies Act, 2013, the report in respect of the Secretarial Audit carried out by M/s Satyendra Sharma & Associates, Company Secretaries in Form MR-3 for the FY2014-15 is attached as Annexure IV which forms part of this Report. The said report does not contain any adverse observation or qualification requiring explanation or comments from the Board under Section 134(3) of the Companies Act, 2013. ACKNOWLEDGEMENTS AND APPRECIATION Your Directors take this opportunity to thank the customers, suppliers, bankers, business partners/associates, financial institutions and various regulatory authorities for their consistent support/encouragement to the Company. Your Directors would also like to thank the Members for reposing their confidence and faith in the Company and its Management. By Order of the Board of Directors For Anna Infrastructures Limited Agra, August 13, 2015 (Ashok Kumar Mittal) Chairman DIN: 00320504 Registered Office: Shop. No. 1 & 3, E-14/6, First Floor, Shanta Tower, Sanjay Place, Agra-282002 CIN: L65910UP1993PLC070612 Telephone: 0562-2527004 Email ID : annainfra@gmail.com Website :www.annainfra.com

Director’s Report