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Anshuni Commercial Ltd.

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Annual Report

For Year :
2014 2013 2012 2011 2010 2009 2008

Director’s Report

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

Director’s Report