The Directors have pleasure in presenting the 25th Annual Report and
the Audited Accounts for the year ended on 31st March 2008.
Current Year Ended Previous Year Ended
Net Profit / (Loss) after Tax 1,884,739 162,802
Profit / (Loss) bought from
previous Year (1,725,440) (1,888,242)
Net Profit /(Loss) carried to
Balance Sheet (159,299) (1,725,440)
In View order to conserve the resources, the Board of Directors regret
to declare any dividend.
NAME OF THE COMPANY
During the year the name of the Company has been changed from Shaktiman
Mercantile Company Limited to Shaktiman Constructions Limited.
Mr. Satish Karmalkar, Mr. Sureshchandra Tapuriah, Mr. Rajesh Kakani and
Mrs. Rachana Kakani Directors of the Company retires by rotation, being
eligible, offers himself for re- appointment.
FIXED DEPOSITS :
The Company did not invite/accept/renew any fixed deposits during the
year under review.
PARTICULARS OF EMPLOYEES:
As required by the provisions of section 217 (2A) of the Companies Act,
1955 read with the Companies (Particulars of Employees) Rules, 1975 as
amended vide Notification no. GSR 839 (c) dated 25/10/2000, as there
are no such employees.
ENERGY, TECHNOLOGY AND FOREIGN EXCHANGE:
Details of Energy, conservation research and development activities
undertaken by the Company along with the information in accordance with
provision of Section 217(e) of the Companies Act, 1956 read with the
Companies (Disclosure of particulars in respect of Board of Directors),
Rules, 1998 is given in the Annexure.
The observations of the Auditors in their report, read with noted
annexed to account, are self explanatory and therefore do not call for
the any further comment and explanation under section 217(3) of the
Companies Act, 1956.
M/s J K Lahoti & Co., the Auditors retire at the ensuing Annual General
Meeting but being eligible offer themselves for reappointed. The
Company has received the letter from Auditors to the effect that their
remuneration if made it would be within the prescribed limits under
section 224 (1B) of the Companies Act, 1956. Your Directors recommend
reappointment of M/s J K Lahoti & Co. as the Auditors of the Company.
DIRECTORS RESPONSIBILITY STATEMENT
As required under section 217(2AA) of the Companies Act, 1956 relating
to the Directors Responsibility Statement, it is hereby confirmed that:
1) In the preparation of the Annual Account for the financial year
ended 31st March, 2008 the applicable accounting standard have been
allowed along with proper explanations relating to material departures.
2) The Directors have selected such accounting policies and applied
them consistently and made judgments and estimates that are responsible
and prudent so as to give a true and fair view of the state of affairs
of the Company as at the end of the financial year and of the Profit or
Loss of the Company for the year under review.
3) The Directors have taken 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
4) These accounts for the financial year ended 31st March, 2008, have
been prepared on going concern basis.
The Directors wish to place on records their appreciation of the
contributions made by the employees at the all levels, whose continued
commitment and dedication helped the Company to achieve better results.
The Directors also wish to thank customers, bankers, etc. for their
continued support. Finally your Directors would like to express their
sincere & whole-hearted gratitude to all of you for your faith in us in
your Co-operation & never failing support.
For and on behalf of Board of Directors
Place : Mumbai
Date : 30.08.2008