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Anshuni Commercial Directors Report, Anshuni Com Reports by Directors
YOU ARE HERE > MONEYCONTROL > MARKETS > DIAMOND CUTTING & JEWELLERY & PRECIOUS METALS > DIRECTORS REPORT - Anshuni Commercial

Anshuni Commercial

BSE: 512091|ISIN: INE425H01016|SECTOR: Diamond Cutting & Jewellery & Precious Metals
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Directors Report Year End : Mar '14    Mar 13
Dear Memebers
 
 The Directors have the pleasure in presenting their 29th Annual Report
 and Audited Annual Accounts for the Financial Year ended 31st March,
 2014 together with the Audited Statement of Accounts and Auditor''s
 Report thereon.
 
 1. FINANCIAL RESULTS:
 
                                                     In terms of Rupees
 
                                              2013-2014       2012-2013
 
 Profit before depreciation                    5,10,955        6,68,537
 
 Less: depreciation                              94,866          94,866
 
 Profit before Tax                             4,16,089        5,73,671
 
 Less: Provision for taxation
 
       Current tax                           (1,27,250)      (1,68,000)
 
       Deferred tax                             (3,524)         (9,319)
 
       Fringe Benefit tax                             -               -
 
 Profit After Tax                              2,85,315        3,96,352
 
 Add: Taxation for earlier year                       -               -
 
 Total                                         2,85,315        3,96,352
 
 Balance in profit & loss account            13,345,380      12,948,957
 
 Surplus available for appropriation         13,630,695      13,345,380
 
 Transfer to General Reserve                          -               -
 
 Proposed Dividend                                    -               -
 
 Tax on Proposed Dividend                             -               -
 
 Balance carried to Balance Sheet            13,630,695      13,345,380
 
 
 2. DIVIDEND:
 
 As the activities of the company are expanding day by day, your
 Director''s think it proper to conserve the funds of the company and
 therefore they have not recommended any dividend.
 
 3. FUTURE PROSPECTS:
 
 Your Company continues to give utmost attention towards export during
 the current year coupled with more support by Government for boosting
 of export your company foresees further more spurt in export turnover.
 Your company expects to fare better in Current year.
 
 4. FIXED DEPOSITS:
 
 The Company has not accepted any deposits from public under the
 provisions of Section 58A of the Companies Act, 1956 during the
 Financial Year ended 31st March 2014.
 
 5. DIRECTORS'' RESPONSIBILITY STATEMENT:
 
 To the best of their knowledge and belief and according to the
 information and explanation obtained by them, your Directors make the
 following statement in terms of Section 217(2AA) of the Companies Act,
 1956:
 
 a) that in the preparation of the Annual Accounts for the year ended
 31st March, 2014, the applicable accounting standards have been
 followed along with proper explanation relating to material departures,
 if any;
 
 b) that the Directors have 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 ended 31st
 March, 2014 and of the profit of the Company for the said year.
 
 c) that the Directors have taken proper and sufficient care for the
 maintenance of adequate accounting records in accordance with the
 provisions of the Companies Act, 2014, for safeguarding the assets of
 the Company and for preventing and detecting fraud and other
 irregularities.
 
 d) that the Directors have prepared the Annual Accounts for the year
 ended 31st March, 2014 on a going concern basis.
 
 6. CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
 EARNINGS AND OUTGO (Section 217(1) (e) of the Companies Act. 1956):
 
 The information required to be given in terms of Section 217(1) (e) of
 the Companies Act, 1956 read with Companies (Disclosures of Particulars
 in the Report of Board of Directors) Rules 1988 is not applicable to
 the company.
 
 Disclosure of Foreign Exchange Earnings/Outgo:
 
 Foreign Exchange Earned: Nil
 
 Foreign Exchange Outgo: Nil
 
 7. PARTICULARS OF EMPLOYEES:
 
 Particulars of Employees as required under Section 217(2A) of the
 Companies Act 1956 read with Companies (Particulars of Employees)
 Rules, 1975 as amended is not given as there was no employees drawing
 the salary as per the limit mentioned in that Section.
 
 8. DIRECTORS:
 
 In accordance with the Articles of Association of the Company and
 provisions of the Companies Act, 2013, Mr. Nitin Kalidas Mehta will
 retire by rotation at the ensuing Annual General Meeting and being
 eligible offers himself for re-appointment
 
 9. STATUTORY AUDITORS:
 
 You are requested to appoint Auditors at the ensuing Annua! General
 Meeting and fix their remuneration. The Auditors of the Company, M/s.
 Kagrana & Associates, Chartered Accountant, retire at ensuing Annual
 General Meeting of the Company and M/s. V.A Parikh & Associates have
 given their consent for appointment. The Company has also received a
 certificate from them under Section 139 of the Companies Act, 2013. As
 per Section 139(1) of the Companies Act, 2013, an Auditor shall hold
 office from conclusion of Twenty-Ninth Annual General Meeting until
 conclusion of Thirty-fourth Annual General Meeting, subject to
 ratification by members at every AGM. Therefore, Auditor cannot be
 appointed for less than a term of 5 consecutive years.
 
 In case of Audit firm, appointment can be made for maximum two terms of
 5 consecutive years and further re-appointment can be made after
 cooling period of 5 years.
 
 10. COMPLIANCE CERTIFICATE:
 
 As per Section 383A of the Companies Act, 1956 read with Notification
 No, G.S.R. 11 (E), Dated 5-1-2010 issued by the Ministry of Corporate
 Affairs, a Company having the paid up Share Capita! of Rs. 10 Lacs or
 more but less than Rs, 5 Crores must obtain a Compliance Certificate
 from a Company Secretary in whole time practice and such Certificate
 must be annexed to the Report. A Compliance Certificate obtained from
 M/s. Pramod S. Shah & Associates  Practicing Company Secretaries is
 annexed as a part of the Directors'' Report.
 
 11. COMPANIES ACT. 2013:
 
 The Companies Act, 2013 (the Act) is in force as on 1st April, 2014 (in
 the manner, to the extent notified by the Ministry of Corporate
 Affairs). The Act has replaced the Companies Act, 1956 and has brought
 a new set of compliances for companies.
 
 The New Legislation will facilitate greater transparency, more
 disclosures and enhanced corporate governance. The Company is taking
 necessary steps for implementation of the provisions of the Act.
 
 12. Acknowledgement
 
 Your Directors take this opportunity to express their grateful
 appreciation for the excellent assistance and co-operation received
 from all the shareholders, customers, suppliers, bankers, Government
 authorities and all other business associates and their confidence in
 the management. Your Directors also wish to place on record their
 appreciation for the contribution made by the employees.
 
 
                            For and on behalf of the Board of Directors
 
 Mumbai                   (Nitin Kalidas Mehta)     (Ansul Nitin Mehta)
 Dated: 30.05.2014                     Director                Director
Source : Dion Global Solutions Limited
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